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.