Travelport Signs 114,000-SF HQ Lease

PARSIPPANY, NJ-Travelport has signed a long-term lease for 114,000 sf of office space at Morris Corporate Center III and will move its headquarters across town from its current location at the Mack-Cali Business Campus, GlobeSt.com has learned. The HQ relocation follows the recent sale of the company. As reported by GlobeSt.com, the now-former travel services distribution business of Cendant Corp. was sold by the latter this past summer to an affiliate of the New York-based Blackstone Group for $4.3 billion.

Travelport’s new home is a 580,000-sf, four-building complex within the seven-building, 2.8-million-sf Morris Corporate Center, a 182-acre master-planned corporate campus developed by the locally based SJP Properties. SJP developed MCC III, subsequently sold it to current owner TIAA-CREF and continues to manage and lease the four-story property. SJP represented TIAA-CREF in the Travelport signing, the terms of which were not disclosed.

“We had some unique corporate requirements and time constraints,” Terry Conley, EVP and chief administrative officer of Travelport, tells GlobeSt.com. “SJP was able to expedite this transaction quickly.”

“With virtually no inventory left of this quality in Morris County, we were able to meet Travelport’s needs and ensure that this leading travel company continued its expansion and reinvestment in the region,” says Steven J. Pozycki, chairman and CEO of SJP Properties. “We were fortunately able to satisfy their human resources, logistics and operational efficiency needs.”

“Travelport had an immediate need,” says Peter Eppie, SJP’s executive vice president. “The transaction was done with a handshake, which I think demonstrates that they are among the most professional and trusted business people we’ve ever worked with.”

Travelport operates a network of more than 8,000 local travel professionals and customers. Among the company’s more than 20 brands are the online travel agency Orbitz; Galileo, a global distribution system; and GTA, a wholesaler of global travel content.