MORRIS PLAINS, NJ-The multi-year question of whether Honeywell would move its global headquarters out of New Jersey has been answered as the firm has signed a deal to purchase a nearly 500,000-square-foot office complex here.
The company reports it has signed a purchase agreement to buy 40 acres of land, a 475,000-square-foot building complex and a parking garage from Johnson & Johnson subsidiary McNeil-PPC Inc. The purchase is subject to approval of its application with the Economic Development Authority for a $40-million Grow New Jersey Assistance Program incentive, according to NJBiz.
Honeywell, which has been in a rezoning battle with Morris Township over its headquarters property, plans to shift its headquarters operations that employs more than 1,000 workers to nearby Morris Plains sometime in 2015. See story in NJBiz.