JLL secures 14K square feet in Cedar Knolls

JLL announced March 29 it completed two leases for a fully renovated office property situated at the crossroads of the Morristown-Parsippany office corridor.

The agreements cover 14,143 square feet at 240 Cedar Knolls, a four-story, 119,587-square-foot office building in Morris County’s Cedar Knolls.

A JLL leasing team led by Executive Managing Director Frank Recine and Vice President Colleen Maguire represented the landlord, Highstone Equity Group, in the transactions with GTL Construction and p-value communications.

GTL, which also has an office in White Plains, N.Y., is relocating its Garden State outpost from Parsippany to accommodate its steady growth, JLL said. Meanwhile, medical communications firm p-value communications is a long-standing tenant of the building that signed a new lease for 10,739 square feet, extending its existing commitment through Jan. 31, 2027. According to JLL, p-value reconfigured its space to adapt to the demands of a hybrid workforce.

“Both the p-value communications restructure and GTL lease needed to be negotiated and executed simultaneously in order to accommodate the space,” according to a statement from Recine. “It was a pleasure working with all parties involved. There was a real concerted effort to get it completed in a short timeframe.”

Recine and Associate Vice President Nicolas DeCotiis represented GTL Construction in its lease; p-value communications was represented by Senior Vice President Chris Conklin and Brokerage Coordinator Maria Casaliggi.

“These transactions demonstrate the leasing momentum for superior-quality assets with best-in-class ownership,” Maguire said in a statement. “Highstone Equity Group has positioned 240 Cedar Knolls to accommodate the needs of new and existing tenants seeking to provide a collaborative environment for tenants.”

Situated in the Cedar Knolls Corporate Center, 240 Cedar Knolls is located on 14 acres of landscaped grounds with easy access to Routes 10 and 24 and Interstates 287 and 80. Recently upgraded amenities include a full-service café, fitness center with lockers and showers, and a conference center. Highstone’s additional renovations saw the building’s common areas refreshed to create bright and welcoming spaces, with an eye from onsite management toward tenant comfort and security.

“It is a pleasure to maintain p–value communications as a tenant and welcome GLT Construction to a property that provides a leading tenant experience,” Highstone Equity Group founder and Managing Partner Elazar Hamel said. “240 Cedar Knolls Road is an ideally located property with a package of amenities that distinguishes it among the Class-A offerings in the market.”