The basics:

• Maersk USA extends lease at 180 Park Ave. in Florham Park
• Three new tenants join property
• Building features cafeteria, fitness center, lounge and more
• Cushman & Wakefield represented Vision Properties in deals

Three new tenants will join the roster at a Class A office building in Florham Park, while current occupant Maersk USA extended its lease at 180 Park Ave.

Cushman & Wakefield announced arranging the deals on behalf of landlord Vision Properties July 30. Integrated global container logistics and supply chain company Maersk USA has anchored the property since 2014, the global commercial real estate services firm said. The three new tenants include:

• Mariner Wealth Advisors – 9,574-square-foot lease
  Financial planner for medical professionals 
• Finazzo Cossolini O’Leary Meola & Hager LLC – 7,840-square-foot lease
  Law firm
• Rockefeller Capital Management – 7,231-square-foot lease
  Independent wealth management and financial services firm

Cushman & Wakefield Managing Director Brian Decillis, Executive Director William O’Keefe and Director Courtney Brooke Rosenkrantz represented Vision Properties in the transactions. Based in Tampa, Fla., full-service commercial real estate firm Vision also has bases in Morristown and Charlotte, N.C.

Decillis noted the draw of high-quality and highly-amenitized properties, like 180 Park Ave., for today’s office tenants. “The building’s reputable ownership, stable financing and capital to perform make it an attractive choice for businesses looking to elevate their corporate identity,” he added.

Somewhere that’s Green

The property is located on a 26.6-acre site within The Green at Florham Park, a 268-acre master-planned development also home to Summit Health, The Archer Hotel, The Ave Florham Park and the New York Jets training facility, among others.

The 180 Park Ave. property was built in 2001. Vision Properties acquired the office building in Florham Park in 2020 in a joint venture with The Birch Group. At the time, the transaction highlighted recent renovations to the atrium lobby. Last month, Cushman & Wakefield highlighted that dramatic entrance, as well as:

• Full-service cafeteria and coffee bar
• Fitness center and studio
• Tenant lounge
• Conference center
• Garage parking
• Outdoor patio with seating
• WiFi
• Walking trails

The location offers access to downtown Morristown and Madison. A daily shuttle also runs to and from the NJ Transit train station for convenient access to Manhattan (in under an hour).

Looking for more

In its bi-annual “What Occupiers Want” report, produced in collaboration with CoreNet Global, CushWake noted tenants are looking for more from their spaces. And, will put money up to support those services. “They’re looking to landlords to provide amenities, services, and community-focused events within and beyond the workspace,” according to the report.

While 85% of occupiers expect these upgraded amenities and services, nearly half (46%) will pay, the paper said. The authors also pointed to changes in the 98% top-tier office rent premium to support that, which it said is up 1,150 basis points since 2019.

Our commitment to providing a premier office environment with unmatched management, amenities and accessibility is evident in the continued leasing success.
— David Milewski, Northeast vice president, Vision Properties

“We are thrilled to extend Maersk’s lease and welcome these esteemed new tenants to 180 Park Avenue,” commented Vision Properties Northeast Vice President David Milewski. “Our commitment to providing a premier office environment with unmatched management, amenities and accessibility is evident in the continued leasing success.”

Milewski closed noting Vision recently enlisted CushWake to manage leasing at another set of office buildings in Florham Park: 350 and 360 Mt. Kemble Ave.