115 Tabor Road in Morris Plains — File photo/Courtesy: CBRE
By Joshua Burd
JCP&L has found a new headquarters in the region after agreeing to lease some 58,000 square feet in Morris Plains, marking the latest addition to a former Honeywell International campus.
A spokesman for FirstEnergy Corp., the utility’s parent company, said the space at 115 Tabor Road will house roughly 150 employees. He added that JCP&L, which signed the lease late last year, expects to transition to the facility once renovations are complete.
The deal brings another major tenant to the 465,133-square-foot property, which Manhattan-based Argent Ventures LLC acquired in 2020 after the departure of Honeywell in 2018. And it comes after JCP&L confirmed last year that it would look to sell its current regional headquarters at 300 Madison Ave. in Morris Township, which spans some 210,000 square feet, reportedly noting that much of its workforce is mobile or working remotely.
The company also has an office at Holmdel’s Bell Works campus.
“As part of our ongoing facility optimization plan, we are working to sell our Morristown General Office at 300 Madison Ave. and have submitted a filing with the New Jersey Board of Public Utilities for approval of the contemplated sale,” the FirstEnergy spokesman, Christopher Hoenig, wrote in an email. “JCP&L maintains headquarters in both our northern and central regions.”
Located off Route 202 and minutes from downtown Morristown, 115 Tabor Road had served as Honeywell’s headquarters since 2015, following a high-profile move from nearby Morris Township. The technology giant at the time had considered a move to Pennsylvania, but opted to stay after Gov. Chris Christie famously stepped in and secured a $40 million tax credit to keep the company in New Jersey.
After moving in, Honeywell announced in late 2018 that it was shifting its front office to Charlotte, North Carolina, though it pledged at the time to keep some 800 employees in Morris Plains. Argent Ventures acquired the property as part of a sale and partial leaseback with the company, subsequently rebranding the campus as The Crossing at Tabor Road.
In 2021, health services company Cigna Corp. announced that it had leased a major portion of 115 Tabor Road. The space today is home to hundreds of employees from Evernorth Health Services, the company’s health services line.
