62 Elm St. in Morristown — Courtesy: Transwestern Real Estate Services
By Joshua Burd
A boutique office building in Morristown has reached full occupancy after the completion of two long-term leases by Transwestern Real Estate Services.
The brokerage firm, the leasing agent at 62 Elm St., announced Thursday that New Vernon Capital and New Jersey Monthly have both signed 10-year leases at the 20,000-square-foot property. They will occupy the first and third floors, respectively.
Transwestern Managing Director Dan Ligorner completed the assignment, bringing the building from vacant to fully occupied in 24 months.
“Transactions require a little extra patience and creativity these days, but achieving 100 percent occupancy at 62 Elm St. with the addition of these two tenants underscores the continued demand for quality office space in vibrant, transit-oriented suburban markets,” Ligorner said. “Morristown remains one of New Jersey’s most sought-after downtown destinations, and the property’s central location provides tenants with a true live/work/play environment and easy access to everything the town has to offer.”
New Vernon Capital, a global asset management firm, is relocating from Jersey City, according to a news release. Its new home is across the street from the Morristown train station and minutes from interstates 287 and 80, Route 24 and other highways, while it is steps from hotels, restaurants and retail destinations.