142-144 S. Street, Morristown
In July 2019, Saxum acquired 142-144 South Street in Morristown, NJ. The approximately 3,600 sf boutique office and retail property is 100% occupied and anchored by ground floor retail tenant BC Salon. The second floor of the building was leased-back by the seller on a short-term basis, allowing Saxum time to finalize planned capital improvements to the asset.
Saxum intends to refurbish second floor space to best-in-class boutique Class A office space, with planned renovations including upgrading common areas, new floors, new wall paint, upgraded bathrooms, and installation of glass offices. 142-144 South Street benefits from its location on the main retail thoroughfare running through Morristown, a walkable downtown area surrounded by bars, boutiques, and complementary office buildings.