Morristown Bank Project Is One Step Closer To Completion

MORRISTOWN, NJ — The developers of Valley National Bank, one of the country's largest financial institutions, marked a milestone earlier this week.

Developers broke ground at the future site of the building in downtown Morristown during a ceremony hosted by SJP Properties, Scotto Properties, and The Donnelly Family Trust.

“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,” Mayor Timothy Dougherty said.

Valley's new headquarters, one of the few significant new office projects under construction in New Jersey, is expected to bring more than 660 professionals to Morristown's dynamic downtown when it is completed in the spring of 2023.

“We’re eager to welcome Valley into the fabric of our renowned community and enjoy the enriching symbiotic relationship that Valley’s corporate workforce presence will share with our downtown businesses, associations and institutions,” Dougherty said.

Valley's new headquarters is the second corporate headquarters that SJP Properties has brought to Morristown in just two years; later this month, SJP will complete construction of Deloitte's New Jersey headquarters at M Station, a multi-phase, mixed-use office and retail development located just steps from the Morristown Train Station.

These two projects cement Morristown's position as one of the most desirable office markets in the region, providing industry-leading companies and their workforces with a transit-oriented, amenity-rich community brimming with activity, officials said.

“This new headquarters is a critical facet of Valley’s commitment to creating a world-class experience for our professionals that inspires and energizes them every day,” said Valley CEO Ira Robbins. "Perhaps most importantly, it will enable our people to be part of the vibrant Morristown community, where we have established valued relationships with numerous local organizations and nonprofits over many years."

Valley's operations will be relocated from Wayne to the company's new headquarters in Morristown, which will have approximately 120,000 square feet of office space with a dramatic lobby entrance and 14,500 square feet of available retail space, a portion of which will be used as a retail community cafe.