SJP Properties inks lease with e-commerce startup Jet.com at new Hoboken building

E-commerce startup Jet.com will open its headquarters at SJP Properties’ new 500,000-square-foot office tower in downtown Hoboken, the developer said.The company will occupy 40,000 square feet in the 14-story building known as Waterfront Corporate Center III, the final piece of SJP’s mixed-use business complex in the city, according to a news release. The Parsippany-based firm recently completed construction on the building, which will be anchored by textbook publisher Pearson Education.

Jet is slated to launch its online shopping platform next year, SJP said in the news release. It is the latest e-commerce venture by Marc Lore, the former CEO and co-founder of Diapers.com and parent company Quidsi.

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“Hoboken was naturally the best location for our headquarters,” Lore said in a prepared statement. “The city’s growing tech scene and proximity to the amazing talent that the New York metro area offers makes this the prime location for our growing company. We’re very excited about not only our new office space, but also the opportunity to contribute to this community.” 

Scott Peck and Brian Wilson of Resource Realty represented Jet in the transaction, while SJP was represented in-house.

“To welcome such a dynamic, ambitious technology-based company to Waterfront Corporate Center III is truly exciting,” said Steven J. Pozycki, CEO of SJP Properties. “It is a testament to the world-class environment that we have created in one of America’s great job centers, where companies can access the highest quality workspace within steps of transportation, entertainment and blossoming culture.”

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Peck said Jet’s real estate team “spent an extensive amount of time searching for a location that was a transit hub and could attract the talent needed for an e-commerce venture of this magnitude,” landing on Waterfront Corporate Center as “a natural fit.”

Pearson, which is moving to Hoboken from Upper Saddle River, will occupy about 200,000 square feet at Waterfront Corporate Center III, which has been developed in partnership with USAA Real Estate Company. SJP is now marketing about 240,000 square feet of office space.

The full three-building complex includes 1.5 million square feet of commercial space.

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