By the BF Staff
From the March/April 2016 Issue
SJP Properties has announced that e-commerce venture Jet.com (Jet) has agreed to expand its headquarters at Waterfront Corporate Center III in Hoboken, New Jersey. Jet will be commencing its build out that will double the size of its corporate offices by an additional 40,000 square feet, for a total of 80,000 square feet. The third and final building within SJP’s best-in-class, mixed-use business center, Waterfront Corporate Center III was developed by SJP in partnership with USAA Real Estate Company, and recently achieved LEED Gold certification from the U.S. Green Building Council.
Jet is the latest e-commerce venture led by Marc Lore, former CEO and co-founder of Diapers.com and parent company Quidsi. Jet launched in July 2015, bringing a significant number of jobs to Hoboken. Scott Peck, SIOR and Brian Wilson of Resource Realty represented Jet in its recent expansion at Waterfront Corporate Center III. SJP Properties was represented in-house by Senior Vice President Peter Bronsnick.
“We’re excited to continue working with SJP Properties to expand Jet’s space on the Hoboken waterfront,” said Marc Lore, Jet’s founder and CEO. “We have an innovative, tech-focused office that is helping lead the Hoboken tech community. SJP has also been supportive of our commitment to being cost efficient and smart with how we expand our footprint in phases that reflect our growth as a company.”
“Jet’s rapid growth at Waterfront Corporate Center III follows NICE Systems’ decision to relocate here, further illustrating Hoboken’s position as a top destination for the regional technology community, which benefits significantly from access to the area’s highly skilled labor pool,” said Steven J. Pozycki, CEO of SJP Properties. “We have created an environment here in Hoboken where businesses can flourish in world-class office facilities without sacrificing access to transportation, amenities and commerce.”
Situated within the heart of Hoboken’s master-planned, pedestrian-friendly waterfront, Waterfront Corporate Center is the city’s most successful mixed-use development. The three-building complex comprises 1.5 million square feet of Class A commercial space adjacent to the W Hoboken Hotel and just steps from Hoboken Terminal’s NJ TRANSIT, PATH, NY Waterway Ferry and Light Rail connections.
In addition to Jet and NICE Systems, a prestigious roster of leading-edge companies calls Waterfront Corporate Center home, including Marsh & McLennan, Thomson Reuters, RMS and Octapharma. Pearson Education occupies 200,000 square feet to serve as the lead tenant of Waterfront Corporate Center III, which also houses collaborative workspace provider Regus. Additionally, Del Frisco’s Restaurant Group recently opened its popular Del Frisco’s Grille at Waterfront Corporate Center III. The complex houses an on-site, state-of-the-art fitness center, Crunch Fitness, as well as the Wicked Wolf restaurant, Jos A. Bank, FedEx and Chase Bank. Last year, childcare learning center Kiddie Academy signed a lease to occupy a portion of the complex’s retail space.
Enhancing Waterfront Corporate Center III’s position as one of the state’s preeminent business addresses are highly efficient floor plates and floor-to-ceiling glass windows that permit natural light to penetrate deep into the floors and offer unobstructed New York City and Hudson River views. SJP has incorporated energy-efficiency and air quality control features throughout to provide a healthier and more sustainable work environment for the building’s tenants. Additionally, the building features an underground parking garage, providing tenants with covered parking access.
ALLIED SPECIALTY FOODS EXPANDS IN VINELAND
Allied Specialty Foods is investing more than $14 million in a new 75,000-square-foot facility located on 8.8 acres in the Vineland Industrial Park. The expansion is expected to add another 70 jobs to the company’s 130 current employees. The company’s existing facility includes two sites totaling about 2.8 acres. Prior to the decision, they had been considering a relocation to Delaware.
“Allied Specialty Foods, Inc. has called the state of New Jersey home for more than 20 years, and we are thrilled that it will continue to be headquartered in Vineland for the next 20 years and beyond,” said Paul Litten, President and Operating Partner. “This new and larger location will become the headquarters and total operating plant for our company. The additional space will enable us to expand our ‘Individual Quick or Flash Freeze’ manufacturing operations and add cold and frozen storage space.”
“Our current Vineland facility has reached maximum capacity,” Litten continued. “We have already started purchasing new equipment, which is in addition to the $14-million investment. Once we are up and running in the new facility, we expect to be the number one steak sandwich supplier in the country.” Current plans are for the new site to be operational in the 4th quarter of 2016.
As part of the company’s expansion project, the New Jersey EDA provided Allied Foods with a Grow New Jersey Assistance Program award worth an estimated $13.7 million, which is directly tied to the creation of new jobs. In addition, the company received a $3.5-million loan from the Vineland UEZ program repayable over 20 years.
“Allied Foods has been a staple in Vineland for decades, and its expansion brings a new infusion of jobs and economic benefits to the region,” said New Jersey Lt. Gov. Kim Guadagno. “We are so pleased that they decided not only to remain in the Garden State but also to grow in the Garden State.”
Vineland’s Director of Economic Development Sandy Forosisky said, “We are thrilled that Allied Specialty Foods is staying in Vineland, expanding operations, and adding more jobs. This is a great way to start off the new year. We are also excited at the opportunity to find a new business who might be interested in acquiring Allied’s existing facility.”
Founded in 1956, Allied Foods produces and distributes USDA-approved thin-sliced steak and chicken products. Company sales in 2015 were estimated at approximately $50 million.