Work starts on the building as the first two structures in themaster planned Hudson River waterfront complex have reached fulloccupancy. As reported by GlobeSt.com, it was announced last weekthat the National Council on Compensation Insurance Inc. has takenthe last 12,000-sf block within Waterfront Corporate Center I.

"The completion of Waterfront Corporate Center III will mark theculmination of the remaking of Hoboken's waterfront," says PeterEppie, SJP's EVP, whose firm teamed up with the Port Authority ofNY/NJ and the city to redevelop the derelict Port Authority-ownedsite. "With tremendous residential development activity currentlytaking place here, and with large blocks of office space virtuallynonexistent in Midtown Manhattan, we're confident that thisbuilding will be a success mirroring that of our first twowaterfront towers."

Waterfront Corporate Center I went under construction in late2000 after publisher John Wiley & Sons, headquartered inManhattan since 1807, committed to 400,000 sf to move its HQ acrossthe river. Sumitomo Trust, CPR and Fuji Securities, now known asMizuho all made subsequent space commitments. The II building wassubsequently delivered in late 2003 with Marsh & McClennantaking 420,000 sf as its anchor tenant. The two buildings, totalingnearly 950,000 sf, are connected by a multi-story base. Theproperty also has a ground-floor retail component.