Riker Danzig Real Estate Project Named Office Deal of the Year by NAIOP
The prestigious NAIOP annual commercial real estate awards gala named Riker Danzig’s “M Station” real estate project as Office Deal of the Year on September 9, 2020. Described as “the most significant commercial development planned for the town in nearly 40 years,” NAIOP commended the project as a “transformative Class A mixed-use development in the heart of Morristown.”
Land Use and Commercial Litigation Partner Frank J. Vitolo, who led our team for client SJP Properties, secured unanimous approval from the Morristown Planning Board on June 18, 2020, after a year of meetings and public hearings. The M Station will provide nearly 400,000 square feet of office and retail space in two buildings, including a parking deck, promenade and public plazas. It replaces the current Midtown Shopping Center on Morris Street, and will include a roundabout to resolve a longstanding traffic bottleneck. Frank had described the project this summer as “Morristown’s coronavirus stimulus package. We are not going to come out of this pandemic limping.” Big Four accounting firm Deloitte will be an anchor tenant.
Working on our team with Frank for SJP Properties is Real Estate Chair Nicholas Racioppi, Jr. and associate Linda M. Herlihy.
Another Riker Danzig project was a Finalist in the NAIOP awards. The Crow Holdings at Veronica Ave. project was a Finalist for Industrial Deal of the Year. NAIOP called the project “a true trendsetter.” Our team of Real Estate Chair Nicholas Racioppi, Jr., Partners Joshua M. Greenfield, James M. Maggio, Jr., and Steven T. Senior, and Of Counsel Cathleen H. Giuliana represented national developer Crow Holdings Industrial in its first New Jersey project to purchase, lease and recently sell a 925,000 square foot warehouse property in Franklin Township, providing Class-A industrial space in one of the most active industrial distribution submarkets in the state.
Real Estate New Jersey covered the awards in its story, “NAIOP Honors Deals of the Year, Industry Icons as Virtual Gala Marks 50th Anniversary.”