When people talk about visionaries in the development business, they think about people who take great risk to achieve a specific goal. In Hoboken, the pioneering effort of SJP and the Port Authority of New York and New Jersey in conjunction with the City of Hoboken, to build nearly one million square feet of office space on the waterfront was difficult to imagine in the 1990’s. Now, that decision seems easy to make, especially when looking back at the successful leasing that followed each building. Tenants in the existing building include Marsh & McLennan, John Wiley & Sons’ Global Headquarters, Sumitomo Trust & Banking and Mizuho Securities. Pearson Education has pre-leased approximately 210,000 sf in Waterfront Corporate Center III. Construction is scheduled to commence in the late summer 2012 with completion in July of 2014.
The 520,000 sf office building will be part of a complex that includes a hotel and several retail businesses. Architectural design for the building complements the existing structures and creates a complete presence on the waterfront from New York City. This development represents the final opportunity for another user to be located on the Hoboken Waterfront. As with all of SJP’s new developments, this property will seek LEED Silver Certification for environmental sustainability.