Qualcomm Leases 115,000-SF Office

For Qualcomm, the signing marks the relocation of its Flarion Technologies group, which provides mobile broadband IP products and services. That division, which Qualcomm acquired in early 2006 in a $600-million deal, will move from its current headquarters a few miles up the road in Bedminster.

The tenant was represented by EVP Robert Rudin and senior director Ed Duenas both of Cushman & Wakefield of NJ, East Rutherford. SJP Properties was represented in-house. Terms of the deal were not released.

According to Rudin, Qualcomm had considered moving its Flarion Technologies group out of New Jersey during its site search, but ultimately SJP Properties, C&W and the New Jersey Office of Economic Development teamed up to, "ensure that all of their facility, infrastructure and economic needs were met. Somerset Corporate Center was ultimately selected on the basis of its location, image and its sophisticated technological infrastructure," according to Rudin.

"This is a very important lease signing for our state," Rudin says. "It's obviously very vital to New Jersey's future prosperity that we retain quality high-tech jobs and industry leaders like Qualcomm. SJP was able to exceed Qualcomm's elaborate set of criteria with regards to power, loading, amenities and location."

Somerset Corporate Center V, which was built on a spec basis, is the fifth of six buildings within Somerset Corporate Center. The five existing buildings, which are arrayed around a 15-acre central park, now account for a total of approximately 1.3 million sf of class A office space. The complex is in central Somerset County, at the crossroads of Interstate 287 and routes 22, 28 and 202/206, just to the south of Interstate 78.