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KPMG LEASES 66,000 SQ. FT. AT HQ
PLAZA IN DOWNTOWN MORRISTOWN
KPMG has taken 66,000 square feet
at Morristown’s HQ Plaza complex,
marking the latest high-profi le
addition to the town’s roster of major
corporate tenants.
The accounting and consulting
giant will occupy the top four fl oors
of the property’s west tower, with
plans to relocate its New Jersey
headquarters from Short Hills in
2026. It will lease the space from
the Olnick Organization and Fisher
Development, the longtime owners
of the distinctive, 1 million-square-
foot superstructure on Speedwell
Avenue.
Plaza are solidifying their place as
the number one offi ce location in
northern New Jersey for users of
varying sizes, with KPMG joining
several other major corporations
relocating here,” Donnelly Sr. said.
“The strategic location and the
comprehensive amenities offered
at HQ Plaza make it an unmatched
workplace destination for today’s
leaders planning for their company’s
future.”
Cushman & Wakefi eld’s Robert
Donnelly and Robert Donnelly Jr.
represented the landlords in the deal,
which was fi rst reported by ROI-
NJ, while CBRE’s Jeff Babikian and
Conor Dolan represented KPMG.
The deal with KPMG also comes
just over a year after Olnick and
Fisher unveiled plans to refresh
HQ Plaza, with a focus on the
cavernous interior concourse that
connects its three offi ce towers,
the Hyatt Regency Morristown and
a host of retailers and restaurants.
The reported $32 million project
includes bringing new lounge areas,
restaurants and workspaces to the
main east-west corridor, in a time
“I’m proud to welcome KPMG to
Morristown and wish them many
years of business success here in our
community,” Morristown Mayor Tim
Dougherty said. “Morristown offers
new residents and businesses alike
a unique opportunity to experience
all that our community has to offer,
from our
award-winning
downtown to
our excellent
public
schools to our
wonderful local
restaurants
and small
Tim Dougherty
businesses,
which is why so many are choosing
to put down roots here.
“KPMG will be another strong
addition to our local business
community and help complement our
vision of bringing more high-quality
jobs right here to Morristown.”
The news comes a month after Riker
Danzig LLP announced it would leave
its longtime home at HQ Plaza’s west
tower, where it spent decades, with
plans to move to Madison in July
2025 under a lease with Bergman
Real Estate Group. Still, Morristown’s
roster of blue-chip corporate tenants
is in fact growing, with Deloitte LLP,
Sanofi and Valley Bank all signing
major leases in recent years for new
ground-up offi ce buildings developed
by SJP Properties.
“This transaction further confi rms
that downtown Morristown and HQ
HQ Plaza on Speedwell Avenue in Morristown
in which tenants have clamored
for high-end workspaces in the
downtown.
Gensler has spearheaded the design
of the project, which was slated to
begin last spring and last about nine
months.
“We are pleased to welcome KPMG
to HQ Plaza,” said Seth Schochet,
CEO of the Olnick Organization.
“HQ Plaza has continued to attract
major companies making long term
commitments
to Morristown.
This is a
testament to
our continued
commitment
to Morristown
Seth Schochet
along with all
the upgrades
we have done to
HQ Plaza and our prime location.”
JLL: BLACKROCK EXTENDS FOR
176,000 SQ. FT. IN PRINCETON
Blackrock has signed a major lease
extension at a Princeton-area offi ce
building, where it will maintain a
footprint of 176,000 square feet under
the new deal with Argent Ventures.
According to JLL, which arranged the
transaction, the asset manager will
continue to occupy the entire third
and fourth fl oors, part of the fi fth fl oor
and the ground fl oor at 1 University
Square Drive in West Windsor. The
early renewal also calls for Blackrock
to shed part of its space on the fi fth
fl oor, which the leasing team said will
be available this summer.
Blackrock has been a tenant at the
fi ve-story, 330,000-square-foot building
since 2010.
“This is an ideally located property with
market-leading indoor and outdoor
amenities that
support employer
efforts to attract
top talent to
the offi ce,” said
Tim Greiner,
an executive
managing
director with JLL.
Tim Greiner
“The building is
positioned to promote collaboration
and innovation with easy access
to numerous outdoor recreation
experiences.”
The JLL leasing team for 1 University
Square Place includes Greiner,
Managing Director Tom Romano,
Senior Vice President Vinny DiMeglio,
Vice President Mike Pietrowicz and
Executive Vice President Jonathan
Ortiz, according to a news release.
The fi rm also represented Blackrock,
with New York Region Chairman
and President Peter Riguardi, Vice
Chairman Matt Astrachan, Managing
Director Nicole Tiger, Executive
Vice President George Gemelos and
Associate Vice President Hannah
Bernstein leading the assignment.
In announcing the deal, JLL noted
that University Square has a two-story
atrium lobby, a full-service cafeteria
with private catering, a large media
and conference room and a modern
fi tness center with locker rooms
and a sauna. Other amenities on
the 18.5-acre campus include newly
revamped landscaping with a walking
trail, electric car charging stations,
a community garden and bocce,
basketball and pickleball courts.
The brokerage team added that the
property, which was completed in 2008,
is equidistant to Philadelphia and New
York City along Princeton’s Route 1
corridor. It’s also less than two miles
from downtown Princeton as well as
the Northeast Corridor’s Princeton
Junction train station.
JLL is now marketing not only the
partial fi fth fl oor, but the full second
fl oor and 13,000 square feet on the fi rst
fl oor. Other tenants in the building
include engineering and environmental
services fi rm Langan and investment
consulting fi rm Mercer.
1 University Square Drive in West Windsor
File photo/Courtesy: JLL
Courtesy: JLL