MORRISTOWN, NJ-With the latest tenant signings by Newmark Grubb Knight Frank at the 1776 On the Green office building in downtown Morristown, occupancy has reached 98%.

There is only one 3,033-square-foot unit available, according to the NGKF team based in Rutherford that is representing owner RREEF.

Two years ago, occupancy at the 162,000-square-foot, 10-story building had sunk to 65%, following the exit of several large tenants.

NGKF devised a leasing strategy aimed at smaller tenants, since little such space was available in Morristown. Christopher Olsen, Timothy Greiner and Brendan McBride have orchestrated the leasing, including the newly-signed Coverys Insurance for 5,000 square feet.

“Our concept was to address the market's lack of small high-quality units,” said Olsen. “The lobbies and common areas were renovated with high-quality finishes, and then we broke up the building's 13,000-square-foot floor plates into pre-built units with upgraded finishes, ranging from 1,500 square feet to 3,000 square feet.”

Two spaces were leased before the work was done, he said, and, “that created momentum.”

In addition to the Coverys lease, other significant leases included KSA Financial Management's taking of 7,500 square feet and NJ.com's lease of 7,688 square feet of former retail space on the ground floor. NJ.com provides online news content for the Star-Ledger, Jersey City Journal and several other newspapers.

Olympus Holdings committed to expand from 7,000 square feet to almost 9,000 square feet.

The remaining 3,033-square-foot space at 1775 On the Green is currently being used as a showroom by Office Furniture Partnership, which is also a tenant.