2 Hanover Road in Florham Park — Courtesy: JLL
By Joshua Burd
Valley National Bank has found a new branch in Florham Park after leasing nearly 3,900 square feet at a freestanding drive-thru property, brokers with JLL announced last week.
According to a news release, the site at 2 Hanover Road will provide the lender with a half-acre lot and exterior parking for 25 vehicles. Valley will occupy 3,865 square feet at the colonial-style building, which sits at a signalized intersection with frontage on both Hanover Road and Columbia Turnpike.
“This is a powerful move for Valley National Bank that will increase efficiency while positioning the bank to continue to cater to the needs of Florham Park residents,” JLL’s Blake Shanaphy, noting that the bank’s relocation will greatly reduce its occupancy costs. “2 Hanover Road is a prime location in one of the county’s most desirable towns. It provides high visibility and heavy daytime traffic as both visitors and residents access nearby amenities, including restaurants, hotels, shops, parks and golf courses.”
Shanaphy, a vice president with JLL, represented Valley in the lease. Katz & Associates Vice President Amy Staats represented the landlord.
In announcing the deal, JLL noted that Valley has more than 300 branches and commercial banking offices across the country. Its new retail branch in Florham Park places it near the New York Jets sprawling training facility and corporate neighbors such as Conduent, three public schools and two university campuses.
