Marsh & McClennan Renews for 138,000 SF at SJP Properties’ Waterfront Corporate Center II in Hoboken, N.J.

HOBOKEN, N.J. (August 9, 2016) – SJP Properties today announced that Marsh & McLennan has renewed its long-term lease at Waterfront Corporate Center II, one of three buildings within SJP’s best-in-class, mixed-use office and retail complex in Hoboken, N.J. With the new lease in place, the global professional services firm, which has been a tenant of Waterfront Corporate Center II since 2002, will occupy 138,000 square feet at the building for the next 15 years.

Situated within the heart of Hoboken’s master-planned, pedestrian-friendly waterfront, Waterfront Corporate Center is the city’s most successful mixed-use development. The three-building complex comprises 1.5 million square feet of Class A commercial space adjacent to the W Hoboken Hotel and just steps from Hoboken Terminal’s NJ TRANSIT, PATH, NY Waterway Ferry and Light Rail connections.

The Newmark Grubb Knight Frank team of Tri-State President David Falk, Executive Managing Director Andrew Sachs, and Executive Managing Director Timothy Greiner represented Marsh & McLennan in the transaction, while SJP Properties was represented in-house by Executive Vice President Jeff Schotz and Senior Vice President Peter Bronsnick.

The lease with Marsh & McLennan comes on the heels of SJP’s announcement that EY, formerly Ernst & Young, has signed a new lease for 168,000 square feet of office space, also at Waterfront Corporate Center II.

“Marsh & McLennan’s decision to recommit to Waterfront Corporate Center for the long term was driven by the exceptional quality of the property, as well as the direct access it affords to numerous transportation options connecting to Midtown Manhattan, where the firm also has offices,” commented Steven J. Pozycki, CEO of SJP Properties. “Waterfront Corporate Center continues to outperform the market as companies immediately recognize the superior quality and location advantages it affords, as well as Hoboken’s unparalleled shopping, dining and entertainment venues.”

In addition to Marsh & McLennan and EY, Waterfront Corporate Center’s impressive tenant roster includes Jet.com, NICE Systems, Newell Rubbermaid, Thomson Reuters, RMS, Octapharma, Pearson Education and workspace provider Regus.

The complex houses an on-site, state-of-the-art fitness center, Crunch Fitness, as well as the Del Frisco’s Grille, Wicked Wolf restaurant, Jos A. Bank, FedEx, Chase Bank and Kiddie Academy. Additionally, Waterfront Corporate Center benefits from proximity to downtown Hoboken’s renowned amenities, as well as two piers that have been converted into beautiful, water-surrounded recreational parks and a tree-lined boulevard, all of which contribute to Hoboken’s 24/7 lifestyle.

Reflective of Waterfront Corporate Center’s position as one of the state’s preeminent business addresses, the complex features highly efficient floor plates with excellent New York City and Hudson River views. SJP has incorporated energy-efficiency and air quality control features throughout to provide a healthier and more sustainable work environment for the complex’s tenants.

The waterfront neighborhood where Waterfront Corporate Center is located is enhanced by the Port Authority’s investment of more than $80 million in infrastructure improvements along the river, evidenced by two piers that have been converted into beautiful, water-surrounded recreational parks and a tree-lined boulevard. The five-acre park at Pier A includes an open lawn area, fountain, tree grove, pavilion and amphitheater space for tenant use. The two-and-a-half acre park at Pier C features a playground as well as a promenade at its eastern edge with lawn areas and a fishing pier.

 About SJP Properties

Founded in 1981, SJP Properties is a privately held, vertically integrated real estate company specializing in the development, management and operation of Class A commercial and luxury residential developments in the New York Metropolitan region. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through development and property leasing and management. The company is also a recognized leader in the development of build-to-suit mixed-use developments on behalf of a long-list of leading corporations, including Prudential, Panasonic, BMW, Sanofi, Tiffany’s and Bayer, amongst others.

For 30 years, SJP has sustained an unblemished track record of success, having completed every project on time and within budget, while generating returns exceeding expectations for its investors. The company’s leadership has established trusted, longstanding relationships with many of the industry’s leading investors and financial institutions, which have invested repeatedly alongside SJP throughout its history. For more information, please call (212) 335-2200 or visit www.sjpproperties.com.