Properties
Mt. Kemble Corporate Center
Morristown, NJ
Mt. Kemble Corporate Center
Overview
Mt. Kemble Corporate Center is a well-located institutional office asset within Morris County in close proximity to Interstate 287. Morris County’s concentration of Fortune 1000 companies is one of the highest of any New York metro submarket. The property also benefits from its setting within a campus environment and its age amongst its competitive set.
Description
Mt. Kemble Corporate Center is comprised of two three-story, Class A office buildings located in Morristown, New Jersey. The buildings rest on a 38-acre site and encompass 227,280±SF.
Results
At the time of acquisition, Mt. Kemble was 91% leased to 12 tenants. The property also includes 881 outdoor parking spaces.
Brickman invested in Mt. Kemble in order to capitalize on the growing demand for suburban office market in one of the most desirable communities in North Central New Jersey. As New York City continues to command ever higher rents, Brickman believes suburbs such as Morristown will continue to experience positive net absorption and substantial growth in rental rates.