MORRISTOWN, NJ-Newly named as the commercial marketing and leasing agent for the commercial space of three residential developments here by a joint venture of Roseland Property Co., Short Hills, NJ and Woodmondt, Silbert Realty & Management is dealing with the new, the transit-oriented and the historic.
The Millington, NJ-based firm has been retained to market and lease: 40 Park and The Metropolitan, collectively known as the “Shops on the Green”; The Highlands at Morristown Station; and The Vail Mansion. “It’s putting all the pieces together,” Wayne Kasbar, a VP of Millington, NJ-based Silbert, tells GlobeSt.com. “It’s our job to make both ends meet and get a transaction together.”
The Shops on the Green contains a total of 70,000 square feet of retail space, with 40 Park, located directly on the park housing 6,332 square feet of ground level shop space, and 24,800 square feet of multipurpose commercial space. Kasbar is looking to fill 800 square feet on the ground floor, and 24,000 square feet on the lower level to complement Starbuck’s Coffee, AT&T Wireless, Qdoba and the locally renowned Harvest Restaurant Group with its Roots Steakhouse/Urban Table eateries. “They have an incredible following, almost a rock star status,” Kasbar says. Specialized apparel is one potential use.
The Metropolitan, located around the corner on Market Street, has approximately 10,700 square feet of ground floor retail. Food is a possibility. The Highlands at Morristown Station, a transit-oriented village, offers 8,000 square feet of highly visible and easily accessible ground level retail, The Highlands at Morristown Station offers commercial space divisible to under 2,000 square feet, suitable for restaurants, spas, of fitness centers, as well as other commercial uses.
“It’s great for retail, but not traditional, because it’s set off from the street,” Kasbar says. He is looking for a restaurant that might pick up on commuter traffic, and for professional services firms.
Built between 1916 and 1918 by Thomas Vail, a former president of the American Telephone and Telegraph Company, the Vail Mansion has been converted from a municipal building to a group of luxury condominiums, with 15,700 square feet of commercial space. “It’s an extraordinary mansion,” Kasbar says. “There’s this grandeur.” That extraordinary architecture does pose challenges, but some possibilities include a gallery, or a not-for-profit organization.
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