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Subleasing Business to Survive in Morristown

For some, it's not just a way to survive high rents, but also to thrive with like-minded companies.

For some moving to Morristown, pairing up is the only way to enjoy all it has to offer while being able to afford this town's somewhat steep rents.

And that doesn't just apply to living here.

For Kim Henry, owner of , subleasing her third floor space at 26 W. Park Place to a number of smaller businesses has allowed her fitness studio to survive and thrive over the past three years.

Recently, Sunshine Spirit Photography joined , Reiki teacher, massage therapist and several others who also call the Wellness on the Green space home.

Henry—who recently signed a lease extension on her business—said half of Wellness on the Green's rent is covered by subleasing space to smaller operations. "It definitely helps," she said. "The location is not the cheapest."

Rachel Valeich, owner of on Morris Street, came to Morristown 12 years ago via subleasing with a fitness studio on South Street. Today, she subleases her space above with several crafters including a jewelry maker, an essential oil product supplier, a maker of herbed soaps and herbal remedies. Her most recent tenant in June was , replacing .

"It's nice for me to help these people have an outlet for their products and also supporting local business," Valeich said. "I just loved working in that environment [when I subleased in another business's space]. We really helped each other grow and having like minded-businesses we used each other's services. It was a nice little nestegg."

Having moved into her own space two years ago, Valeich said it not only made sense financially to offer some of her space to smaller businesses, but it also was something she just wanted to do.

"I have the ability to create that in my own space," she said. "Obviously sub-leasing does take some pressure off the rents. But I find it's a win-win, especially if they are like-minded businesses."

For Denise Dougherty, owner of Sunshine Spirit Photography, the ability to have another satelite location for photo shoots for her Landing-based business has proven invaluable.

"Diversification is always a good idea in business," said Dougherty, also a Wellness on the Green student. "Morristown is so vibrant. I want to be here."

"We're lucky it has worked out," Henry said of her situation.

"I just love Morristown. If we could afford to live there, we would," said Valeich, who recently moved to Sussex County. "I love this town. I've just met so many amazing people here."

Amidst continued uncertainly in the economic landscape, Valeich said it makes sense for a smaller business that wants to do business in Morristown to join forces with other smaller businesses.

"It really does provide a little more support for a business that maybe
wouldn't be able to exist if they didn't do it," she said.

Lissa August 27, 2012 at 01:58 PM
Out of curiosity, how does one find out about spaces available for sub-lease?
John Dunphy August 27, 2012 at 03:00 PM
Lissa, I would say you would need to shop around. You also can contact the Morristown Partnership, Morristown's chamber of commerce. http://morristown.patch.com/listings/morristown-partnership
Chris H. August 27, 2012 at 05:38 PM
You can contact a commercial real estate broker (make sure to contact one focused on tenant representation, not landlord representation). They can walk you though all of your options in the market, direct with landlords and sublease opportunities.
lynn magnusson August 27, 2012 at 07:54 PM
Seek out like minds!
stephen harris August 27, 2012 at 10:12 PM
I am interested in space within a Victorian home in Morristown. contact me at info@sph-photo.com thank you

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