PARSIPPANY, NJ-SJP Properties, based here, has signed two leases totaling 45,000 sf at two of the firm's properties in New Jersey. In the larger of the two signings, Mercury Insurance has taken 33,000 sf on the sixth floor of the eight-story, 250,000-sf Somerset Corporate Center II in Bridgewater. The building is part of SJP's multi-building, 1.55 million-sf Somerset Corporate Center.
In the transaction, SJP was represented in-house. Mercury Insurance, a Los Angles-based broker and agency writer of auto insurance, was represented by Peter Carr of the Beverly Hills, CA-based Corporate Realty Associates. Terms were not released. The signing also marks Mercury Insurance's first office location in the Garden State.
And in Hoboken, NJ, SJP has signed the National Council on Compensation Insurance to 12,000 sf at Waterfront Corporate Center I at 121 River St. SJP was again represented in-house, while NCCI, managers of a database of workers compensation insurance information, was represented by Leslie Merrill and Frank Gunsberg of GVA Williams. Terms were again not released.
Waterfront Corporate Center I is part of SJP's Waterfront Corporate Center, a two-building, 934,000-sf office complex with 60,000 sf of ground-floor retail. SJP also has local clearance and is planned to develop Waterfront Corporate Center III, a 550,000-sf building that would complete the build-out of the redevelopment site.
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