Accurate Builders & Developers, in partnership with DeVimy Equities, started construction of Morris Marketplace, a new retail destination rising on East Hanover Avenue in Morris Township. The site of the former Colgate-Palmolive corporate campus, Morris Marketplace will include 140,000 square feet of retail space and an array of community-oriented attractions and features that seek to reimagine and redefine what a suburban retail center can be.
Site work on the property was recently completed, paving the way for vertical construction to begin, according to Jack Klugmann, president & CEO of Accurate Builders & Developers. Construction is expected to be completed in the 4th quarter of 2022, at which point the space will be turned over to the retail providers to build out.
Over a dozen tenants have already signed leases for Morris Marketplace, including Lidl grocery, Starbucks, AT&T, Orangetheory Fitness, &Pizza, Restore Wellness and Cryotherapy, and a variety of eateries, shops and service businesses.
“There is a lot to look forward to at Morris Marketplace,” Klugmann said. “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. 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 partnered with DeVimy Equities to develop Morris Marketplace. The 20-acre property is part of a larger 64-acre development spanning Morris Township and a part of Morristown, across from Mennen Sports Arena, that will ultimately include townhomes and rental units to complement the retail.
Interactive children’s play areas, pocket parks, splash pads, seating areas, outdoor dining spaces and other active and passive recreation spaces are all integrated into the marketplace’s design. These outdoor attractions will give the property a sense of place, serve as amenities for the local community, and offer a destination experience, not just a shopping experience. The town-center feel will encourage more day-to-day usage of the property and boost foot traffic, to the benefit of the market’s retail tenants.
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