SJP Properties Signs 93,000-Square-Foot Lease with Allergan, Inc. at Somerset Corporate Center II
SJP Properties, one of the New York Metropolitan Area’s most active development companies, today announced that it has signed a 93,000-square-foot lease with global health care company Allergan, Inc. at Somerset Corporate Center II, the company’s state-of-the-art, energy-efficient Class A office building in Bridgewater, N.J. The move will inject as much as $12 million of private investment into the state’s economy as well as create several hundred new jobs over the next few years.
“Allergan’s decision to expand its operations in New Jersey will create hundreds of high-quality jobs and is proof that the pro-business policies of this Administration are helping to attract and retain both large and small businesses here in the state,” said Governor Chris Christie. “Working diligently to attract leading companies such as Allergan to New Jersey to improve our long-term economic prospects has been a top priority of mine since I took office.”
Somerset Corporate Center II totals 250,000 square feet and is situated within Somerset Corporate Center, one of SJP’s signature developments, offering direct access to Interstate 78 and Interstate 287, Routes 202/206, as well as proximity to both Newark International Airport and New York City. The building boasts a tenant roster of high-caliber companies such as Juniper Networks, Qualcomm, Merrill Lynch, Aon Consulting, and Dr. Reddy's Laboratories.
“Somerset Corporate Center is an ideal location for world-class companies such as Allergan, offering the highest quality, modern buildings with cutting-edge technology and exceptional amenities,” stated Steven J. Pozycki, CEO of SJP Properties. “This transaction is a continuation of our organization’s track record attracting leading-edge companies to our properties, and we are extremely confident that Allergan will strongly benefit from this property’s strategic location within the heart of New Jersey’s pharma/tech corridor, offering unparalleled access to a highly skilled labor pool.”
SJP was represented in-house in the transaction; Allergan was represented by CBRE Senior Vice Presidents Kurt Burdack, Carolyn Sica and ChipWright.
The property features high-performance, energy-efficient and environmentally responsible energy systems that produce low emissions and optimal indoor air quality. Somerset Corporate Center II was awarded the U.S. Environmental Protection Agency’s prestigious Energy Star recognition, the national symbol for superior energy efficiency and environmental protection, and is registered with Leadership in Energy and Environmental Design (LEED), which is the path to seeking LEED Existing Building – Operating & Maintenance certification.
The most prominent feature at the Somerset Corporate Center campus is the 15-acre central park around which the center’s five buildings are situated. The park features numerous walking paths, sitting areas and extensive landscaping, helping to reduce environmental stress for building tenants. Additionally, private gardens at each of the buildings include seasonal floral displays, fountains and park-style seating.
Additionally, Somerset Corporate Center is situated amongst several college campuses such as Rutgers and Raritan Valley College and a diverse housing base within coveted school districts. Numerous hotels, including the adjacent 300-room Bridgewater Marriot Hotel and conference center, surround the corporate center. Located directly across Routes 202/206 is the nearly one million-square-foot Bridgewater Commons Mall, the second-largest mall in New Jersey, offering a variety of retail amenities. Restaurants, numerous country clubs and public golf courses, movie theaters and daycare facilities are also in close proximity to the campus.
Allergan is a global, technology-driven, multi-specialty health care company with approximately 10,000 employees worldwide and a presence in more than 100 countries. Established more than 60 years ago as an eye care company, Allergan currently focuses on several medical specialties, including eye care, neurosciences, medical aesthetics, medical dermatology, obesity intervention and urologics. The firm’s well-known products include Botox®, Restasis® and Lap-Band®.
About SJP Properties
SJP Properties is a fully integrated commercial and residential real estate developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase office complexes and build-to-suit corporate headquarters properties, as well as for individual tenant build-out projects. For 30 years, SJP has sustained an unblemished track record of success having completed every project on time and within budget, and has developed strong relationships with some of the industry’s foremost investors and lenders.
For more information on SJP Properties, please call 973-299-9117 or visit www.sjpproperties.com.