Work that will transform the former Colgate-Palmolive corporate campus in Morris County into a mixed-use retail destination is underway.
On Thursday, a partnership of Accurate Builders & Developers and DeVimy Equities began construction of Morris Marketplace on East Hanover Avenue in Morris Township.
According to Accurate Builders President and Chief Executive Officer Jack Klugmann, site work at the property was recently finished, allowing for the start of vertical construction. Completion is anticipated for the fourth quarter of 2022, when space would be turned over to retail providers for build out.
Set to include 140,000 square feet of retail space on 20 acres, according to the partners the project has an eye toward reimagining and reestablishing the services and goals of a suburban retail center. Outdoor attractions throughout Morris Marketplace – think dining spaces, children’s play areas and splash pads, seating, and additional active and passive spaces – will provide amenities for the community, create a “destination experience”—as opposed to a strictly retail one, and “give the property a sense of place.”
Morris Marketplace is part of a larger 64-acre development that sits in Morris Township and a part of Morristown, which Accurate Builders said will eventually include complementary townhomes and rental units.
More than a dozen tenants spanning food, shopping and service businesses are already locked in for leases at the property, including Lidl, Starbucks, AT&T, Orangetheory Fitness, &Pizza and Restore Wellness and Cryotherapy. According to Accurate Builders, additional retail spaces are still available.
“There is a lot to look forward to at Morris Marketplace. This is a thoughtfully-designed property in a well-populated, high-income area that has the potential to be a true community destination and a model for future retail developments,” Klugmann said. “We’re excited to announce that construction is underway and look forward to working closely with Morris Township and our partners to bring our collective vision to reality.”
Accurate Builders & Developers is a developer of residential, commercial, and mixed-use properties, with projects currently active along the East Coast, including in New Jersey, Connecticut, and Pennsylvania.