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After Onyx Equities acquired the former home of AT&T in Morristown in 2016, it brought a $50 million capital improvement plan to the property. Now, those efforts have seen returns with Morgan Stanley and Zelis both signing leases for 340 Mount Kemble.

Morgan Stanley is leasing 116,578 square feet, while Zelis will occupy 53,295 square feet, Onyx announced last week.

JLL‘s Tim Greiner and Blake Goodman represented Onyx Equities in the transactions. Jason Benson and Bob Ryan, also from JLL, represented Morgan Stanley, while Cresa‘s John Coakley and Dennis Gralla represented Zelis.

The new agreements leave just over 22,000 square feet of available space at the property.

“As we see a shift back to the office, we understand the importance of delivering a thoughtful and community-minded work environment that attracts top-tier employee talent and helps to rebuild corporate culture for this new chapter,” said John Saraceno Jr., co-founder and managing principal of Onyx Equities. “At 340 Mount Kemble, we’ve revolutionized the office experience from the outside-in by adding in-demand amenities, modern glass curtain walls, individualized HVAC systems, and more — all in Morristown, one of New Jersey’s most desirable commuter locations.”

Mid-construction, which took place mid-pandemic, Onyx determined that newly designed, separate HVAC systems were needed for each company. The firm said it also continues to partner with Hackensack Meridian Health System to maintain operations in a health conscious way throughout its portfolio, including at 340 Mount Kemble.

“Onyx has become known for delivering forward-thinking office environments in prime commuter locations, and 340 Mount Kemble is the perfect example of what today’s companies are looking for,” Greiner, executive managing director of JLL, said in a prepared statement. “We are thrilled to add to an already impressive tenant roster as we welcome Morgan Stanley and Zelis in 2023.”

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