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SJP Properties Signs Headquarters Lease With eMarketer at 11 Times Square

02/26/2013

SJP Properties today announced that eMarketer, a leading global information resource on digital marketing, media and commerce, has signed a 53,000-square-foot lease at 11 Times Square, a new, state-of-the-art, 1.1-million-square-foot, LEED-Gold-certified office and retail tower in Midtown. The building is owned by a joint venture of SJP Properties and investors advised by Prudential Real Estate Investors.

Relocating from Lower Manhattan, eMarketer was attracted to 11 Times Square’s location and state-of-the-art technology, security and energy-efficiency features, which combine to create an optimized work environment that supports enhanced employee productivity.

“We believe a world-class work facility is fundamental to our company culture and our ability to provide world-class information to clients,” said eMarketer CEO Terry Chabrowe. “Establishing a new headquarters at 11 Times Square will help us continue to expand our team and meet growing demand from businesses worldwide looking to better understand the digital marketplace.”

The company will occupy the entirety of floors 12 and 14 at the tower, establishing its headquarters within Manhattan’s foremost transit hub location. Situated directly across from the Port Authority’s bus terminal, 11 Times Square features direct subway access to all New York City destinations, and is only one subway stop from both Penn Station and Grand Central Terminal.

"This building continues to attract a diverse base of leading-edge global companies in search of a modern and strategically located business address that delivers the advanced technology infrastructure needed to assist them in maintaining their advantage in today’s competitive marketplace,” stated Steven J. Pozycki, CEO of SJP Properties. “In particular, eMarketer’s employees and clients will enjoy superior transportation access to and from the building, as well as a healthy and energy-efficient office environment due to 11 Times Square’s LEED-Platinum indoor air quality and sustainability features.”

CBRE Executive Vice President Timothy Dempsey, Senior Vice President Roger Griswold and Senior Associate Greg Maurer-Hollaender represented eMarketer in the transaction, while Jones Lang LaSalle Vice Chairmen Mitchell Konsker and Paul Glickman and Senior Vice President Diana Biasotti represented SJP Properties. Jones Lang LaSalle serves as the exclusive leasing agent for 11 Times Square.

Designed as Midtown’s most advanced new commercial tower, 11 Times Square was developed using a precedent-setting concrete core construction model that ensures protection of the building’s critical infrastructure and overall enhanced safety for tenants. The tower features a highly efficient glass curtain wall that works to reduce heating and cooling costs throughout the building.

Located at the intersection of Eighth Avenue and 42nd Street, immediately north of The New York Times building, 11 Times Square helps to define the western gateway to the 42nd Street/Times Square business corridor. Since the mid-‘90s, the neighborhood has been the beneficiary of a significant migration in the tenant population in Midtown toward Times Square, led by many of the world’s leading law firms and global financial services companies.

The building’s premier concierge-level services include a high-tech, state-of-the-art elevator dispatch system that minimizes tenant wait and is integrated with the building's security system; an advanced visitor check-in system; a large, secured, fully-efficient loading dock; and a messenger/mail center and delivery area specifically designed to maximize ease of use by tenants. The building’s highly efficient officespace features floor-to-ceiling windows and column-free corner offices, as well as multiple private terraces.

The tower offers convenient access to the numerous signature restaurants, world-class hotels and entertainment and shopping venues that define Times Square as an iconic neighborhood.

With eMarketer’s lease, 11 Times Square is more than 70-percent leased to a world-class roster of tenants that includes leading global law firm Proskauer, as well as Microsoft, which signed a long-term lease at the building earlier this year.

About SJP Properties

SJP Properties is a vertically 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 as well as for individual tenant build-out projects. The company is a recognized leader in the development of build-to-suit office and mixed-use developments on behalf of a long-list of leading corporations, including Panasonic Corporation of North America, Prudential, BMW, Sanofi, Tiffany’s, Ingersoll Rand and Bayer. The company’s leadership has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. 

For 30 years, SJP has sustained an unblemished track record of success, having completed every project on time and within budget.For more information, please call 973-299-9117 or visit www.sjpproperties.com

About eMarketer

eMarketer is the authority on digital marketing, media and commerce, offering insights essential to navigating the changing, competitive and complex digital environment. By weighing and analyzing information from different sources, eMarketer provides businesspeople, marketers and advertisers with the most complete view of digital marketing available.
www.eMarketer.com

02/26/2013 - 12:22

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SJP Properties

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