Nearly 40,000 SF in Lease Deals Signed at Mount Kemble Corp. Center
The New York City-based NFP’s lease was the largest of what has been 39,832 square feet in recent new lease deals at the two-building office complex.
MORRISTOWN, NJ—Insurance broker NFP has relocated operations from Florham Park to nearly 17,000 square feet of space at the Mount Kemble Corporate Center here.
The New York City-based NFP’s lease was the largest of what has been 39,832 square feet in recent new lease deals at the two-building office complex. Recent transactions have brought the nearly 230,000-square-foot Class A complex at 350-360 Mount Kemble Ave., which is owned by Birch Group and Vision Properties, to 97% occupancy. CBRE’s Daniel Casey and Greg Barkan, the exclusive leasing agents at the property, \represented ownership during the negotiations with the respective new tenants.
NFP, which was represented by CBRE’s Jeffrey Babikian and Conor Dolan, signed a 16,970-square-foot lease. Following an acquisition, NFP had to relocate its offices from an existing location in Florham Park, CBRE explains. CBRE and Vision Properties worked closely with NFP to accommodate its immediate needs and provided temporary office space even before the tenant improvements at its permanent premises were completed.
On a buying spree of late, NFP announced yesterday it acquired The DeChristopher Group of Vienna, VA. Earlier this month, the firm reported the purchase of Transit Insurance, a P&C broker, based in Ontario, CA. In late October, NFP announced the launch of Wealthspire Advisors, representing the combined RIA of Sontag Advisory and Bronfman Rothschild firms. Wealthspire Advisors is a New York City-based, independent registered investment advisory firm with more than 120 associates serving clients from 11 offices in seven states.
In other recent lease deals at the Mount Kemble Corporate Center, Avaya committed to an additional 11,161 square feet of expansion space at the property. The firm previously occupied 36,937 square feet, but required additional space to accommodate its growing business. Robert Donnelly, Jr. of Cushman & Wakefield represented Avaya in the lease negotiations.
Lord, Abbett & Co. LLC leased 7,817 square feet of office space, which they will be utilizing for a disaster recovery center. The team of Timothy Greiner and Craig Eisenhardt of JLL negotiated the lease on behalf of Lord, Abbett & Co.
In addition, 1792 Wealth Advisors, LLC took 3,884 square feet of office space that was fully furnished and move-in ready, which provided substantial savings for the firm. Mike Marchese of Chilmark Real Estate Services represented 1792 Wealth Advisors in the transaction.
Built in 2001, the Mount Kemble Corporate Center was acquired by The Birch Group and Vision Properties in 2018 for approximately $35 million, according to a report in Real Estate Weekly.