It's Official: SJP Properties' Phase Two Is a Go

HOBOKEN, NJ-When Sumitomo Trust & Banking USA signed a lease for 37,000 sf last fall at SJP Properties’ Waterfront Corporate Center, it combined with publisher John Wiley & Son’s earlier lease for 400,000 sf to push the under-construction phase one past the 80% leased mark. At the time, insiders at leasing agent Insignia/ESG of New Jersey told GlobeSt.com that phase two construction would likely be announced shortly.

For earlier story, click on:SJP Breaks Ground on First Phase of 1.1-Mil SF Complex

That is indeed the case, as Parsippany, NJ-based SJP has announced that work will proceed immediately on the second 13-story, 550,000-sf building, bumping the total space under construction to 1.1 million sf. “This project has been well-received by the market, and that has given us the confidence to move ahead to complete the entire project,” according to SJP Properties’ president Steven J. Pozycki. “We feel that the leasing opportunities will remain strong in this market for at least the next several years.”