SJP Properties Achieves Full Occupancy at Somerset Corporate Center with Expansion of Qualcomm Lease to 156,294 SF
1.2 Million-SF, Best-in-Class Business Center Outperforms New Jersey Suburban Market with Accelerated Leasing Activity
Bridgewater, NJ – SJP Properties today announced that it has fully leased Somerset Corporate Center in Bridgewater, New Jersey with the recent expansion of Qualcomm Inc.’s lease by 30,882 square feet to a total of 156,294 square feet. The milestone is a testament to Somerset Corporate Center’s ability to support the advanced infrastructure needs of today’s modern corporations, as well as the unparalleled access it affords to a highly skilled workforce.
Qualcomm, which develops wireless technologies and mobile data solutions, has been a tenant at Somerset Corporate Center since 2007, and renewed its lease at the best-in-class business center last year. Over the past several years, Somerset Corporate Center has attracted a number of leading-edge companies seeking a modern, state-of-the art work environment, including Linde Americas, iconectiv, Mazda, Kering Eyewear, Allergan, Cognizant Technologies, Aon Hewitt and Merrill Lynch.
“When we set out to develop Somerset Corporate Center, we immediately recognized that the site’s unique location advantages – in one of the country’s strongest labor pools and in proximity to major thoroughfares and mass transit – would ideally position it to become a destination of choice for world-class companies,” stated Steven J. Pozycki, Founder and CEO of SJP Properties. “That original vision has been realized in achieving full occupancy with an incredible roster of companies whose advanced infrastructure and operational needs are being supported everyday by the superior environment we have created here.”
Somerset Corporate Center comprises five existing Class A buildings totaling 1.2 million square feet that are situated around a 15-acre landscaped central park. SJP Properties is also planning a 130,000-square-foot Life Time fitness facility, as well as a 150-room AC by Marriott hotel and restaurant, within the center.
One of SJP’s signature developments, Somerset Corporate Center is in proximity to both Newark International Airport and New York City, and is situated directly across from the nearly one million-square-foot Bridgewater Commons Mall – the second largest mall in New Jersey. The property’s unique configuration affords access in all directions via Routes 202/206 and 22, as well as Interstates 287 and 78. Additionally, the center offers access to public transportation, including NJ TRANSIT service via a shuttle to the Somerville train station just four miles from the property, and features a state-of-the-art conference facility, as well as fitness centers and cafes in each of its buildings.
About SJP Properties
SJP Properties is a vertically integrated commercial and residential real estate developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase office complexes as well as for individual tenant build-out projects. The company is a recognized leader in the development of build-to-suit office and mixed-use developments on behalf of a long-list of leading corporations, including Panasonic Corporation of North America, Prudential, BMW, Sanofi, Tiffany’s, Ingersoll Rand and Bayer. The company’s leadership has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital.
For 30 years, SJP has sustained an unblemished track record of success, having completed every project on time and within budget. For more information, please call 212-335-2200 or visit www.sjpproperties.com.
