SJP Properties, Scotto Properties, and The Donnelly Family Trust hosted a ceremony today to celebrate the groundbreaking of the new state-of-the-art headquarters for Valley National Bank, who is moving its base of operations from Wayne to Morristown.
The new headquarters offers approximately 120,000 square feet of office space, and will be located across the street from the Hyatt Regency Morristown on Speedwell Avenue. It is expected to bring more than 660 professionals to Morristown’s downtown upon its completion in the spring of 2023.
Designed by global architecture firm Gensler and planned to achieve LEED certification, the new building will replace a string of vacant structures located on five lots along Speedwell Avenue, and will create an urban environment that appeals to today’s workforce.
“We had the option to move to Manhattan or Florida where we have a significant amount of operations, but we chose to be here in Morristown because there is an understanding of how important community is,” said Valley CEO Ira Robbins. “We are excited to stay in Morristown and excited to stay in New Jersey.”
The building is described as being a “modern interpretation of the masonry tradition of historic Morristown,” with a balance of glass, metal, and warm brick tones that “embraces the character of the neighborhood.” It will feature floor-to-ceiling windows and abundant natural light, with operable glass walls open to outdoor terraces, creating an indoor-outdoor environment.
The ground floor will feature a dramatic lobby entrance along with 14,500 square feet of available retail space, a portion of which is planned as a retail community cafe.
“Breaking ground on this milestone commercial development — the second new headquarters building for Morristown in just the last two years — cements our town’s stature as an in-demand hub for corporations that want to offer their workforces more than just a great building, but an entire community rich with culture and connectivity,” said Morristown Mayor Timothy Dougherty.
The move will enable Valley employees to be part of that community, where Robbins said the bank has established valued relationships with numerous local organizations and nonprofits over the years. Valley currently has 3,825 total employees, with 1999 employees in New Jersey.
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