SJP Properties Sells NJ Development Site
- Oct 18, 2017
SJP Properties has sold a site within Somerset Corporate Center in Bridgewater, N.J., for the development of an AC Hotels by Marriott and a Zinburger Wine & Burger Bar. The design-driven hotel will offer guests high-end accommodations in 150 guest rooms, a rooftop bar and lounge, in addition to the 5,800-square-foot, free-standing retail business. Construction will start immediately and will be completed in 2020.
Somerset Corporate Center comprises five buildings totaling 1.5 million square feet, situated around a landscaped 15-acre park. The office campus spreads throughout 100, 200, 300, 400 and 500 Somerset Corporate Blvd., and features a high-end conference facility, fitness centers and cafes. The property is home to a diverse roster of tenants including Linde Americas, Qualcomm, Mazda, Allergan, Cognizant Technologies, Aon Hewitt and Merrill Lynch.
The property sits adjacent to the Bridgewater Commons Mall, the second largest mall in New Jersey. It is also located in close proximity to the Newark International Airport and New York City, offering easy access to major roads such as routes 202, 206 and 22, as well as interstates 287 and 78. A NJ Transit-serviced shuttle to the Somerville train station provides easy access throughout the area.
“In order to remain competitive in attracting today’s workforce, corporate tenants require business environments that meet both their operational needs with high-performance office space and technology infrastructure, as well as their cultural objectives. Our unique ability to combine the region’s premier office spaces with lifestyle services that our tenants and their employees need and want will ensure that Somerset Corporate Center continues to outperform the market,” SJP Properties CEO Steven Pozycki said in a prepared statement. “AC Hotels by Marriott and Zinburger are two great brands that will significantly add to the quality of work-life we provide.”
In a similar deal, NAI James E. Hanson brokered the sale of a multi-use development site in West Caldwell, N.J.
Image courtesy of SJP Properties