Riker Danzig Scherer Hyland & Perretti LLP is the largest single office tenant in downtown Morristown. So when its lease at Headquarters Plaza came up, there was significant interest to keeping the law firm in town.
On Tuesday, the firm announced its commitment to stay in Morristown until at least 2025.
As part of the agreement, which provides for more than 110,000 square feet in the west tower at Headquarters Plaza, the Riker Danzig offices will undergo an interior redesign that will result in significant enhancements to its offices, according to a release on the announcement.
“We are thrilled to stay in Headquarters Plaza,” Nicholas Racioppi, Riker Danzig’s real estate chair, said in the release. “Riker enjoys an extremely positive relationship with the town of Morristown. In addition to our business relationship, many of our 225 employees either live in Morristown or spend their leisure time here. Morristown, and Headquarters Plaza specifically, was our first choice throughout the lease negotiations.”
Riker Danzig, which has been in Morristown for more than 40 years, has been a strong supporter of town activities, charities and social events, including last weekend’s Jazz & Blues Festival.
Riker Danzig Managing Partner Glenn A. Clark said being part of the community is a big part of the allure of Morristown.
“It’s the only place that I have worked in my adult life, and it’s a fantastic place to work,” he said. “I am very happy that we will be here for at least another 10 years.”
Morristown Mayor Timothy Dougherty feels Riker Danzig is a key tenant for the city.
“Riker Danzig has been a driving force in the economic revitalization of Morristown since it moved its headquarters here nearly 40 years ago,” he said. “With Riker staying and significant renovations planned for the exterior common areas, Headquarters Plaza will continue to be the primary hub for business, tourism and entertainment in Morristown.”
Morristown Partnership Executive Director Michael Fabrizio echoed the Mayor’s sentiment.
“Riker Danzig is a leader in our business community, and its generosity reaches across Morristown, from the Mayo Performing Arts Center, the Morristown Jazz & Blues Festival and Morris Arts to the Morristown Partnership, the St. Patrick’s Day Parade, First Night Morris, Cornerstone Family Programs and Grow It Green Morristown,” he said.
Clark said the lease deal comes at a big time at the firm.
“We have grown significantly over the past 12 months and now need to reconfigure our offices to accommodate that growth here in Morristown,” he said. “For example, Riker Danzig’s tax and trusts & estates group, already one of the largest in the state, recently added a probate litigation team, increasing to nine the number of attorneys practicing T&E and tax.
“Riker Danzig’s insurance litigation group has hired seven new attorneys, while more than a dozen seasoned attorneys were hired to service significant new business in the corporate, litigation, environmental, labor & employment, and securities litigation practice groups. Another four entry-level associates will join Riker in the fall, including two former summer associates and two who will have completed judicial clerkships, bringing to 29 the total number of attorneys that Riker has hired over the past 12 months.”
ALSO ON NJBIZ: