Valley National Bank Finalizes Headquarters Project In Morristown

MORRISTOWN, NJ — The developers of Valley National Bank, one of the country's largest financial institutions, marked a milestone last week with the grand opening of its new headquarters in Morristown.

Located just off the Morristown Green, the building was developed by SJP Properties in partnership with Scotto Properties and architecture firm Gensler.

Valley's new headquarters, one of the few significant new office projects under construction in New Jersey, is anticipated to bring more than 600 professionals to Morristown's dynamic downtown now that it is completed.

“Moving our headquarters to Morristown, a dynamic and evolving community, aligns well with the growth Valley has achieved from a small community bank to a regional bank while maintaining our focus and commitment to being relationship-driven,” said Ira Robbins, Valley Bank CEO. “This location is ideal as it is near the train station and convenient to Newark Airport for our employees and clients. We are excited to become part of a community where many of our partner organizations are based.”

The property includes about 120,000 square feet of office space, floor-to-ceiling windows and skyline views. Operable glass walls open to three outdoor terraces. The ground floor will feature a lobby entrance with soaring ceilings, along with 14,500 square feet of available retail space, a portion of which will house a new Valley retail banking branch.

A portion of that retail space will belong to the coffee shop, Ethan and the Bean.

After opening its first location in 2019, Ethan and the Bean has grown in popularity due to their welcoming and impactful mission of increasing the employment rate for persons with intellectual and developmental disabilities.

According to Francesca Cwynar, the community manager at Ethan and the Bean, the coffee shop does not have a definitive opening date, but they are hoping to open up to the community by the end of October or the beginning of November.

Pamela Donovan founded Ethan and the Bean, a woman-owned non-profit coffee company, out of necessity as her son graduated from high school and she was concerned about Ethan's future.

According to Cwynar, the unemployment rate is well over 80 percent for individuals with intellectual and developmental disabilities. Ethan and the Bean aims to help this grossly marginalized population in the nation.

Pam operates Ethan and the Bean with heart and compassion as a mom who understands firsthand the difficulties of navigating the world of employment for neurodivergent and disabled people. Her aim is that the company will continue to grow, develop, and assist people for many years to come.

"Valley is proud to support their mission and built Ethan and the Bean a beautiful new home to share with our Valley colleagues and the entire Morristown community. The café offers a full menu of beverages and bakery items all prepared on the premises by the staff. After hours, the café will host events such as craft nights and art shows," officials said.

Valley's new headquarters is the second corporate headquarters that SJP Properties has brought to Morristown in just two years; last fall, the professional services firm Deloitte moved its operations from Parsippany to the M Station East building.

The M Station project is regarded as Morristown's most significant commercial development in more than 30 years.

Officials claim it has the potential to revitalize the downtown area by attracting high-quality commercial tenants who will support neighborhood retailers and restaurants, as well as providing new retail options and critical infrastructure improvements.

For more information about M Station, visit mstationmorristown.com.

Valley National Bank has $62 billion in assets, according to its corporate profile. The company has branches in New Jersey, New York, Florida and Alabama.

“On behalf of the Town of Morristown, I would like to extend a warm welcome to our newest valued business, Valley National Bank,” said Mayor Tim Dougherty. “This is the beginning of a partnership that will invigorate Morristown as a vibrant and thriving district. Our town’s rich heritage and strong sense of community make it an ideal setting for a company to prosper. We are thrilled to have Valley here and are excited about the opportunities that lie ahead for newcomers to live and work. Here’s to your continued success and growth in our town.”