Sumitomo Mitsui Trust Bank Selects SJP Properties’ Waterfront Corporate Center I for New 30,000-SF Office

Hoboken, NJ – September 2024 – Sumitomo Mitsui Bank, a leading chartered trust and banking company, has signed a long-term lease for 30,000 square feet at Waterfront Corporate Center I, a premier office property owned and managed by SJP Properties in Hoboken, New Jersey. Sumitomo recently settled into their new office space on the ninth floor.

Waterfront Corporate Center I offers Sumitomo a desirable location with direct access to Hoboken Transit Terminal as well as access to the PATH and New York Waterway Ferry. Having previously occupied space within the building, Sumitomo recognized the strategic advantage of maintaining its Waterfront Corporate Center address when it elected to maximize functionality and modernize its office with a new custom installation at the property.

SJP Properties served as Project and Construction Manager for the buildout of Sumitomo’s new office, ensuring the space met the company’s needs and specifications. Harrison Russell, Managing Director at Newmark, led the negotiations for Sumitomo.

“Having previously leased at Waterfront Corporate Center I, Sumitomo was satisfied with the property as its ideal strategic location and simply wanted to relocate within the same building for a seamless transition,” said Mr. Russell. “The company is pleased with its move to the ninth floor of the building and is confident that this new space will provide the ideal environment for operational continuity.”

“The SJP Properties team is proud to support Sumitomo Mitsui Trust Bank in its move to the ninth floor of Waterfront Corporate Center I,” said Alexander Erdos, Senior Vice President – Leasing and Development. “This project exemplifies our commitment to delivering tailored solutions that meet the unique needs of our tenants. We are pleased to have facilitated this transition and are confident that the new space will provide Sumitomo with an environment that fosters both operational efficiency and continued growth. SJP is thrilled to continue its long-term relationship with Sumitomo.”

About Sumitomo Mitsui Bank
Sumitomo Mitsui Trust Bank (U.S.A.) Limited, (“SMTBUSA”), was originally established in 1987 as a New York State chartered trust and banking company, insured by the Federal Deposit Insurance Corporation. SMTBUSA is a wholly-owned subsidiary of The Sumitomo Mitsui Trust Bank, Limited of Japan, which is one of Japan’s major trust banks. In May 2002, SMTBUSA relocated its office to New Jersey and became a New Jersey State chartered trust and banking company, insured by the Federal Deposit Insurance Corporation.

SMTBUSA began its securities lending services in US fixed income market in 1988 and has since expanded to include non-US fixed income markets, as well as equity lending in over 20 major markets worldwide. On the global custody services, SMTBUSA has expanded its network to cover approximately 90 markets and focuses on providing value-added services both in English and Japanese, which include, but not limited, to corporate action events, newsletters, and reporting.

About SJP Properties
Headquartered in New York City, SJP Properties is a vertically integrated commercial, residential, and industrial real estate owner, 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 projects, including numerous Class A build-to-suit developments and individual tenant buildouts. Well known for the creation of unparalleled lifestyle-focused developments, SJP is committed to meticulous design and engineering development plans that reflect a keen understanding of market demand. Following successful industrial buildouts in the Tri-state area, SJP is expanding its warehousing portfolio across the Eastern Seaboard, most recently with an approximately seven-million-square-foot industrial development strategically located near the Port of Savannah.

Having sustained an unblemished track record of success, SJP has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. For more information, call 212-335-2200 or visit www.sjpproperties.com.