Marsh & McLennan Extends Hoboken Lease 15 More Years

Waterfront Corporate Center, Hoboken, NJ

HOBOKEN, NJ— Marsh & McLennan has renewed its long-term lease at SJP Properties’ Waterfront Corporate Center II , one of three buildings within the mixed-use office and retail complex in Hoboken, NJ. The new lease means 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. The lease with Marsh & McLennan comes just days after the news, previously reported by GlobeSt.com, 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,” says 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.” Situated within the heart of Hoboken’s master-planned, pedestrian-friendly waterfront, Waterfront Corporate Center has been among the city’s most successful mixed-use developments. The three-building complex includes 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 , and executive managing directors Andrew Sachs, Timothy Greiner, Hope Brodsky,  and  Timothy Gibson 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. In addition to Marsh & McLennan and EY , Waterfront Corporate Center’s tenants include Jet.com, NICE Systems, Newell Rubbermaid, Thomson Reuters, RMS, Octapharma, Pearson Education and workspace provider Regus . CORRECTION, 8/11/2016, 11:08 a.m.: Because of incomplete information provided to GlobeSt.com by PR representatives for SJP Properties , the names of two Newmark Grubb Knight Frank brokers who represented Marsh & McLennan in the transaction, Hope Brodsky and Timothy Gibson , were omitted from an earlier version of this story.