SJP Properties, in partnership with Scotto Properties, announced that demolition is underway at the future site of the new headquarters for Valley National Bank in Morristown. Upon completion in March 2023, Valley’s new base of operations is expected to bring more than 660 professionals to Morristown’s thriving downtown district.
Valley intends to relocate its operations from Wayne to its new headquarters in Morristown, which offers approximately 120,000 square feet of office space.
“As Valley continues to evolve into a forward-thinking financial institution, we view Morristown as the ideal location for our immediate and long-term future,” remarked Valley CEO Ira Robbins. “Having partnered with and supported many Morristown organizations and nonprofits over the years, we are excited to establish a permanent home within this vibrant community. SJP Properties has a proven track record of creating and operating exceptional workplaces that propel the success of the businesses that occupy them — making them the perfect partner to envision and build our new base of operations.”
Envisioned by SJP Properties in close collaboration with renowned global architecture firm Gensler, Valley’s new headquarters will replace a string of vacant structures located on five lots along Speedwell Avenue.
Designed to achieve LEED certification and create an urban environment that appeals to today’s discerning workforce, Valley’s headquarters is a modern interpretation of the masonry tradition of historic Morristown, featuring a careful balance of glass, metal and warm brick tones that embraces the character of the neighborhood. Reflecting SJP Properties’ decades-long commitment to creating inspiring workplaces that integrate meaningful technology, sustainability measures, and concierge-style services that bolster the employee experience, the building will be ideally suited to attract and retain top talent that demands more than a traditional suburban office building.
“As today’s recruiting market becomes increasingly competitive, it’s critical to create a workplace environment that excites and encourages professionals to come to the office,” said Steve Pozycki, CEO of SJP Properties. “Having a beautiful yet flexible office design that promotes health and wellbeing, offers access to the outdoors, and is integrated within a vibrant community is no longer a perk — it’s a requirement.”
“Valley’s relocation to Morristown will serve as a major force to further invigorate our dynamic downtown ecosystem,” said Morristown Mayor Timothy Dougherty. “By bringing Valley’s growing workforce to Speedwell Avenue, within walking distance of a plethora of retail and dining options, the development will have an enormous impact on the local economy. We look forward to welcoming Valley — a company that has supported our community for decades — to its new home.”
In addition to offering its employees immediate access to Morristown’s amenities and conveniences, Valley’s new headquarters is situated near public transit options, including the Midtown Direct NJ Transit service to New York Penn Station, creating a suburban office building that confers the benefits of a premier downtown location, making it accessible to Valley associates throughout the region.
Following the demolition and completion of site work on the property, groundbreaking will occur in the spring of 2022 with completion estimated for March 2023.
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