Construction is set to begin on Sanofi’s new 260,000-square-foot flagship office building in Morristown, under the second phase of a high-profile redevelopment by SJP Properties.
Office vacancy in northern and central New Jersey continued upward in early 2023, driven by a slowdown in leasing and large blocks of space flooding the market, even as high-end buildings remained a draw for tenants seeking a more modern work environment.
Pharmaceutical giant Sanofi is moving its New Jersey team to Morristown, where it will occupy 260,000 square feet of new ground-up office space built by SJP Properties and Scotto Properties.
