1200 Mount Kemble Ave. in Morristown — Courtesy: Lincoln Equities Group
By Joshua Burd
Five tenants have combined to lease more than 100,000 square feet at a four-building, 412,000-square-foot office portfolio near downtown Morristown, Lincoln Equities Group announced.
The owner and investor on Wednesday detailed the leases at the properties, where it has overseen a series of improvements in recent years. In the largest transaction, Morgan Stanley renewed for 37,000 square feet at 1200 Mount Kemble Ave., with Bob Ryan of JLL representing the tenant.
The other leases included:
- RegentAtlantic Capital LLC leased 22,000 square feet at 60 Columbia Road, with Eric Ladden of Cornerstone representing the tenant.
- National Exchange Carriers Association leased 27,000 square feet at 60 Columbia Road, with James Fraser of DP Real Estate representing the tenant.
- ANS Continuum Holdco LLC leased 10,200 square feet at 60 Columbia Road, with Tom Reilly of JLL representing the tenant.
- AHS Hospital Corp. leased 4,200 square feet at 100 Southgate Parkway, with Bryn Cinque of Colliers International representing the tenant.
“Our Morristown properties have become a prime destination for corporations and medical offices,” said Joel Bergstein, LEG’s president. “That’s thanks in part to our wide-ranging improvements, which allow companies to offer more modern amenities that appeal to a younger workforce.”
Bergstein highlighted an extensive transformation at 60 Columbia Road, a two-building, 156,000-square-foot complex, which has included a redesigned lobby entrance, upgrades to the HVAC system, a new roof, a patio area with furniture and enhanced landscape design. Other amenities include a modern fitness center and a full-service cafeteria with abundant indoor and outdoor seating.
LEG has brought Building A to 77 percent leased after acquiring it vacant, while noting that Building B offers “limited options” to join anchor tenants Simon Premium Outlets, McKesson Corp. and Assistance in Marketing. Like its other Morristown-area properties, the complex sits just off Interstate 287 and provides easy access to downtown Morristown and Route 24.
The firm also highlighted door and entry enhancements, a revamped exterior aesthetic and new landscaping lining at 100 Southgate Parkway, a 151,400-square-foot building that is home to Verizon Wireless and Porzio, Bromberg & Newman P.C.
“These properties offer companies the ability to conduct business in a suburban environment with easy access to Morristown’s thriving downtown, highways and transit centers,” said Ken Flynn, LEG’s senior director of leasing.
