National Business Parks Announces Acquisition of Desirable Morristown Commercial Property

With a history of attracting financial services and wealth management firms, 10 Madison Avenue in Morristown is considered a boutique Class-A office building, and National Business Parks is proud to announce the recent addition of the property to their portfolio. The fully occupied building is sought-after by tenants because it offers convenient access to major roads like I-287, Rt-202, and Rt-24. With a continued renaissance of Morristown’s “live, work, play” downtown area, the property is close to the bus stop and train station, and within walking distance to restaurants, fine shops, banks, and hotels, making it one of the most desirable office locations in the area.

“This asset folds perfectly into our existing portfolio of high-visibility, strategically located property addresses, especially those we already have in Morristown,” explains Vincent Marano, Chief Operating Office of National Business Parks. He continues, “When 10 Madison Avenue became available we were a prime purchase candidate and we were able to move quickly to acquire the property.” Even though the building has proven its value in the market, the company is planning to begin improvements to include an exterior renovation, as well as upgrades to the restrooms and common area lobby.

10 Madison Avenue is an 86,700 square feet, five-story building and offers tenants 24-hour card key access. With ample parking, an on-site building manager, and fiber optics and other high speed telecommunications options its current occupants include investment and financial institutions such as Morgan Stanley, AXA Equitable, Northwestern Mutual, and Valley National Bank.

Along with SouthGate Corporate Center, also located in Morristown, 10 Madison Avenue is among several Class-A office buildings owned and managed by National Business Parks in New Jersey including 757 Route 202/206 in Bridgewater, and numerous class-A office, laboratory, and research and development properties located at College Park at Princeton Forrestal Center, in Princeton. For more information on National Business Parks and availability in any of their properties please contact us or call 609-452-1300.