Listen to this articleThe basics:
- HQ Plaza in Morristown completes renovation led by Fisher Development and The Olnick Organization
- New Gensler design adds light, greenery & collaborative spaces
- Leasing grows with KPMG and 225K square feet in new deals
- Upgrades come amid growing momentum in Morristown
As Morristown continues to evolve, so too does one of its longest standing residents, biggest taxpayer and a major employment hub.
HQ Plaza owners Fisher Development Associates and The Olnick Organization revealed renovations at the 1 million-square-foot mixed-use destination in the heart of downtown Oct. 8.
The ribbon-cutting ceremony debuted a design from Gensler that literally broke down walls to create a space now filled with light, color, greenery, seating, additional amenities — and people. The new concourse – open to the public – complements the property’s other attributes and updated spaces, as well as those of its surroundings.
With 650,000 square feet of Class A office space, the former Headquarters Plaza along Speedwell Avenue has long been a desirable address in Morristown. Beyond the workspace it features:
- 100,000 square feet of retail (open and upcoming tenants include Parkside Tavern, Sushi Lounge and Masseria by Joe Cetrulo)
- 256-key Hyatt Regency Regency Morristown with:
- 31,000 square feet of meeting and conference space
- Four ballrooms
- 32 flexible conference rooms
- Enhanced catering and audiovisual services
- 40,000-square-foot Crunch fitness club with indoor pool
- 10-screen AMC Theatres
- 3,000-space parking garage
Proof of concept
On Wednesday, building owners, the Gensler team, Morristown Mayor Tim Dougherty, municipal officials, building tenants, property manager JLL and other civic and community members gathered in the main corridor a experience the transformed space first-hand.
It was a much different one from the February 2024 gathering that revealed plans for the renovation and the new HQ Plaza moniker.
And one that begins as soon as the doors open.
Welcoming guests, The Olnick Organization CEO Seth Schochet referenced that earlier kickoff. “We spoke about reimagining … as a place that brings together best-in-class office, retail, hospitality, entertainment, dining and community in the heart of Morristown. Today we’re proud to stand inside that vision,” he said.
“The upgrades are designed to enhance the experience for our existing tenants, attract additional high caliber companies and foster connections with the broader Morristown community. From upgrading infrastructure to modernizing tenant spaces and common areas to bolstering our restaurant and retail offerings. Every detail was carefully considered to ensure HQ Plaza meets the evolving needs of today’s business and visitors.”
Activated
When plans for the new “functional, flexible and inspiring” space were announced in 2024, the approximate investment was $7 million, on top of the $25 million spent on completed work that includes the recently renovated Hyatt, as well as the property’s reinvigorated outdoor plaza.
Rather than facilitating passage, the updated area linking HQ Plaza’s three office towers now encourages – and even entices – users to linger. The area features lounge seating, dining areas, adaptable workspaces, natural light and biophilia. Getting around is also easier, with enhanced physical and digital guides to access various amenities and areas.
“When Brian and Seth approached us, it was all about trying to make a destination here in Morristown … for the tenants, for the community to gather in a spot,” Gensler Project Director René Cruz said Wednesday. The global architecture, design and planning firm also has a base in Morristown.
“One of the biggest things that we wanted was to activate the space,” Schochet told NJBIZ after cutting the ribbon. “So I think today is a great showing that what goes on here could go on here.”
“I can’t tell you how many times I’ve used this space for meetings,” Dougherty quipped opening his remarks. “But really, it is their vision and it’s come to fruition.”
“Everybody’s got to work together to make these kinds of things happen,” the mayor said.
“People used to always bash Headquarters Plaza. … [But] they’ve always been like the top taxpayer. They’ve always been the top employer; and they’ve been here since ’81. They’re committed. They stayed committed,” the mayor said of the long time leadership and vision at HQ Plaza. “They’re partners here just like everybody else.”
Meeting the moment
Fisher Development Associates Principal Partner Brian Fisher called attention to the time his company and The Olnick Organization has invested in HQ Plaza — four decades.
“Really, the reason why we have taken Headquarters Plaza and really brought it to where it is now is because all of Morristown has really elevated,” he said, crediting the town and mayor.
Of late, Morristown has built quite the corporate roster, thanks to new development in the city, and investments like those at HQ Plaza. Across the street on Speedwell Avenue is Valley National Bank’s headquarters, new construction that the company moved into in 2023. Deloitte took occupancy at SJP Properties’ M Station East that same year, while Sanofi opened doors at its hospitality-inspired hub at M Station West earlier this year.
Continuing that trend and leading leasing momentum at HQ Plaza, KPMG recently signed on for 66,000 square feet of space, before adding another 10,000 square feet about seven months later.
“Our leasing has never been stronger,” Schochet told NJBIZ. “I mean, Morristown is really having its day.”
According to Cushman & Wakefield Vice Chairman Robert Donnelly Jr., HQ Plaza has secured more than 225,000 square feet of new leases over the past three years.
“In the past year alone, 14 new leases totaling more than 100,000 square feet have been signed, further enhancing HQ Plaza’s evolving office and retail environment,” said Donnelly, who serves as leasing agent for office space at the property.”
