Valley National Bank says its future Morristown headquarters is proceeding on schedule. Here is a statement from the bank:
SJP Properties and Scotto Properties Celebrate Topping Out
of Valley National Bank’s New HQ in Morristown
The financial institution’s modern headquarters on Speedwell Avenue
reaches full height just four months after breaking ground
Following its June groundbreaking, Valley National Bank’s (NASDAQ: VLY) new high-performance headquarters on Morristown’s Speedwell Avenue has topped out at six stories in height.
Developed by SJP Properties in partnership with Scotto Properties, Valley’s new headquarters is one of the few major office projects under construction in New Jersey, and is expected to bring more than 660 professionals to Morristown’s dynamic downtown upon its completion in the Spring of 2023.
“Thanks to the expertise of our team, accomplished project partners and support from local leadership, we are one step closer to delivering a transformative office environment for Valley and its team of esteemed professionals,” said Steve Pozycki, CEO of SJP Properties.
“Besides a variety of transit options and robust lifestyle amenities, Morristown offers an elevated quality of life that employers like Valley prioritize when selecting office locations that will appeal to current employees and prospective talent. We are proud of the project’s progress to date and look forward to bringing the next generation of office space to this highly desirable community.”
Valley National Bank, one of the largest and most prestigious banking institutions in the country, will relocate its operations from Wayne, N.J., to this state-of-the-art,120,000-square-foot workspace. The bank’s new base of operations will replace a string of vacant structures located on five separate lots along Speedwell Avenue.
A build-to-suit office building designed by global architecture firm Gensler, Valley’s new headquarters is a modern interpretation of the masonry tradition of historic Morristown, offering a balance of glass, metal, and warm brick tones that embrace the character of the neighborhood.
Design hallmarks include operable glass walls that open to three outdoor terraces, which create an indoor-outdoor environment that makes Morristown’s pastoral landscape part of the workplace.
The ground floor features a dramatic lobby entrance with soaring ceilings, along with 14,500 square feet of available retail space, a portion of which is planned to house a new Valley retail banking branch.
Designed to achieve LEED certification and create an urban environment that appeals to today’s discerning workforce, the building reflects SJP Properties’ longstanding commitment to creating healthy, sustainable and inspiring office ecosystems.
The building’s technological advances include improved air quality using a combination of enhanced MERV filtration and UV light purification, advanced digital controls, energy-efficient base building systems that feature variable frequency drives, solar reflective roofing, low flow water fixtures, energy and consumption metering, and energy-efficient lighting.
By integrating meaningful technology, sustainability measures, and concierge-style services that bolster the employee experience, the building will be ideally suited to help Valley attract and retain top talent that demands more than a traditional suburban office building.
Valley’s new headquarters sits directly across the street from the recently renovated Hyatt Hotel, TopGolf and 1776 restaurant — amidst the breadth of shops, lifestyle amenities, restaurants and cultural experiences that make Morristown one of the most livable townships in Northern New Jersey.
The building is in close proximity to a multitude of public transit options, including the Midtown Direct NJ TRANSIT service to New York Penn Station, creating a suburban office building that confers the benefits of a premier downtown location and making it accessible to Valley associates throughout the region.
The project marks the second corporate headquarters that SJP Properties has brought to Morristown in just the past two years. Recently, SJP completed the construction of Deloitte’s New Jersey headquarters at M Station, a multi-phase, mixed-use office and retail development situated within steps of the Morristown Train Station.
About SJP Properties
Headquartered in New York City, SJP Properties is a vertically integrated commercial and residential real estate owner, developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase projects, including numerous Class A build-to-suit developments and individual tenant build-outs. Well known for the creation of unparalleled lifestyle-focused developments, SJP is committed to meticulous design and engineering development plans that reflect a keen understanding of market demand.
Having sustained an unblemished track record of success, SJP has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. For more information, call 212-335-2200 or visit www.sjpproperties.com.
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $43 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Care Center at 800-522-4100
@MGGAG,
If the new tenants for that god awful Hanover Avenue strip mall also include a check cashing store and a smoke shop, you’ll definitely be proven right!
MAGAG, we have been MERV-less for years. Furnace is running naked. Libs: Pwned!
Imagining Jeff running around his house removing furnace filters to “own the libs”.
And let’s have a great big hand for enhanced MERV filtration, in case anyone missed that!
MGGAG you forgot Lidl.
re: route 10, that strip mall across from shop rite is looking like one that already passed its peak – Burlington Coat Factory and a Mattress store? Not exactly top-tier tenants, kind of more like the sort of tenants you get just before an old strip mall fails.
With an underutilized parking garage and a newly renovated hotel on the opposite side of Speedwell Ave. this seems like a perfect fit for a long abandoned property in the heart of Town.
Then offer a suggestion Andrea instead of a critique. Its easy to just criticize and never offer your own suggestions for others to critique.
Way to dream big Jeff. Taget in downtown Morristown. Bringing the swag of Route 10 home.
Q, I am figuring that M Station will employ hundreds (or more), also, no? I think a downtown Target would be ideal. I agree with you about Park Place. It’s a dead zone. Maybe a hotel and a Target.
As far as 330 cars, I don’t that will be too bad of a problem.
Hey Jeff, I would worry less about the visitors and more about the 1500 workers (not sure where that # came from, I see 660 above). Even if half go into the office each day, where are we putting an additional 330 cars every day? HQ? Or even if you are right, 750 cars? Traffic is going to be horrendous….If anything, I wouldn’t propose a Target, but they should turn Century 21 into a hotel, it’s nothing but a vacant hull at this point.
I have some questions here from a friend of a friend: Still no plans for another downtown hotel? One isn’t needed with 1500 or so additional downtown workers? How about an urban-style target for Park Place? A food hall?