New Jersey Office Space

2 Speedwell Ave Listing
Morristown, NJ
# 2 Speedwell Ave, Morristown Part of a 10 acre commercial office park (three office buildings, one hotel) in downtown Morristown. Headquarters Plaza, which is owned in partnership with Fisher Development, has nearly 600,000 square feet of Class A office space, a 100,000 square foot professional office mall, and a 3,000 space indoor parking garage, is one of Northern New Jersey's premier full-service self-contained commercial office complexes. Situated in the heart of Morristown, Headquarters Plaza is home to several Fortune 500 corporations, including renowned law firm Riker, Danzig, Scherer, Hyland & Peretti LLP. The complex is just steps from the Morris County courthouse and the Town Green, and is within walking distance of many of Morristown's historic attractions, restaurants, banks, retail shops, professional offices, and many new residential properties. Headquarters Plaza also offers tenants an unparalleled array of amenities, including convenient, on-site parking in its secured, limited access parking garage; newly renovated building lobbies with concierge service; access to a 40,000 square foot health club facility - The Club at Morristown; on-site child care; several restaurants, a laundry service and various shops. Additionally, the 256-room Hyatt Morristown at Headquarters Plaza offers the only upscale lodging available in the center of Morristown. Ideal for business and leisure travelers alike, the hotel has recently completed a multimillion dollar capital improvement program featuring a redesigned lobby, restaurant, bar, ballrooms and meeting facilities with state-of-the-art audiovisual and telecommunications capabilities. In addition, guest rooms at the property will undergo a full renovation over the next two years to offer fresh and modern luxury accommodations, including the acclaimed Hyatt Grand Bed product in every room. When complete, the Hyatt Morristown at Headquarters Plaza will undoubtedly become the flagship luxury hotel in all of upscale Morris County. Hyatt consists of 212 hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt, Hyatt Regency, Grand Hyatt and Park Hyatt names. This is a twelve-story, 181,500-square-foot office building built atop a 5-level parking garage with aluminum facade and reflective insulated glass. This is one of three inter-connected buildings. Parking spaces are $65/month per stall. Former AT&T facility. This building was awarded an Energy Star label in 2011, 2012, and 2014 for its operating efficiency.

New Jersey

Office Space Market Report

Number of Listings (last 90 days)
1,460
Median Rate ($/sqft/yr)
$28
Median Size (sqft)
3,050
As of: December 10, 2016

New Jersey Rates

Most listings are in the $20's per square foot per year. The New Jersey region is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.

New Jersey Listing Supply

In the last 90 days, 1460 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the listings in the New Jersey are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 3,050 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 2 floors. Most buildings in this area were built in 1983 and are Class A.

New Jersey Community

Market Report

Trends and status of the commercial real estate market in New Jersey.
Market Report

Market Data

Real time and historical data on commercial real estate listings in New Jersey.
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