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Deals & Dealmakers

Qualcomm signs 125,000 s/f renewal with SJP Properties

SJP Properties announced that Qualcomm Inc. has renewed its lease for 125,472 square feet at Somerset Corporate Center V, a Class A office building situated within SJP’s master-planned Somerset Corporate Center business complex in Bridgewater, New Jersey.

Qualcomm, which develops wireless technologies and mobile data solutions, first relocated to Somerset Corporate Center in 2007.

The company represented itself in its recent lease renewal, while SJP Properties was represented in-house.

The deal comes on the heels of SJP’s announcement earlier this month that data solutions firm iconectiv had signed a new lease for 115,000 square feet at Somerset Corporate Center I.

“Qualcomm’s decision to recommit for the long-term at Somerset Corporate Center is further validation of this property’s ability to meet the advanced infrastructure needs of leading technology companies,” stated Steven J. Pozycki, Founder and CEO of SJP Properties.

“In fact, Qualcomm has been using Somerset Corporate Center to test its various cell phone technologies, underscoring the superior environment we have created here.”

Located within one of the country’s strongest labor pools, Somerset Corporate Center comprises five existing Class A buildings totaling 1.5 million square feet that are situated around a 15-acre landscaped central park.

SJP Properties is also planning a free-standing, full-service fitness facility, as well as a 130-room full-service hotel and restaurant within the center.

In addition to Qualcomm and iconectiv, a number of leading-edge global companies call Somerset Corporate Center home, including Linde Americas, Mazda, Kering Eyewear, Allergan, Cognizant Technologies, Aon Hewitt and Merrill Lynch.

One of SJP’s signature developments, Somerset Corporate Center is in proximity to both Newark International Airport and New York City, and is situated directly across from the nearly one million-square-foot Bridgewater Commons Mall – the second largest mall in New Jersey.
The property’s affords access in all directions via Routes 202/206 and 22, as well as I287 and I78.

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