PARSIPPANY, NJ – SJP Properties, one of the New York Metropolitan Area’s most active and respected development companies, today announced that Valeant Pharmaceuticals International, Inc., has signed a long-term, 310,000-square-foot lease to occupy the entirety of Somerset Corporate Center IV within SJP’s premier 2.1 million-square-foot, Class A office complex in Bridgewater, N.J.
The new lease will allow Valeant, a multinational pharmaceutical company, to consolidate multiple locations into its new U.S. headquarters at Somerset Corporate Center IV following the company’s recent acquisition of Bausch + Lomb, a leading global eye health organization. The company is expected to relocate to Somerset Corporate Center IV starting in the first quarter of 2014. Due to SJP’s construction expertise, Valeant has retained SJP to oversee build-out of its new headquarters.
Somerset Corporate Center IV is one of five buildings within the Somerset Corporate Center campus that boasts high-performance, energy-efficient and environmentally responsible building systems that produce low emissions and optimal indoor air quality to deliver a healthier work environment. The building features several on-site amenities that will be exclusively available to Valeant’s employees, including a full-service corporate cafeteria, a conference center with a 225-seat theater-style auditorium, and a fitness center.
The master-planned campus is uniquely configured with a ring road that provides a total of four means of ingress and egress, affording tenants easy access in all directions via Routes 202/206 and 22, which boarder the property, as well as Interstates 287 and 78.
“Somerset Corporate Center IV is situated in a pristine campus setting within the heart of one of the country’s best labor pools for the pharmaceutical and technology sectors. This strategic location will afford Valeant Pharmaceuticals unparalleled access to highly skilled, specialized talent that will position this growing international company strongly to maintain its competitive edge,” commented Steven J. Pozycki, CEO of SJP Properties. “We are confident that Valeant’s ability to attract and retain top professionals will be further enhanced by Somerset Corporate Center’s offering of numerous, premier amenities and highly responsive on-site management.”
One of SJP’s signature developments, Somerset Corporate Center is in proximity to both Newark International Airport and New York City. The campus offers access to public transportation, including NJ TRANSIT service via a shuttle to the Somerville train station just four miles from the campus, and features a state-of-the-art conference facility, as well as fitness centers and cafes in each of its buildings.
The most prominent feature of 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. Private gardens at each of the five buildings include seasonal floral displays, fountains and park-style seating.
In addition to Valeant, Somerset Corporate Center boasts a tenant roster or world-class companies, including Qualcomm, Allergan Pharmaceuticals, Cognizant Technologies, Merrill Lynch and Aon Hewitt and Aptalis.
Somerset Corporate Center is close to several college campuses, including Rutgers University and Raritan Valley Community College, as well as a diverse housing base within coveted school districts. Numerous hotels and conference centers surround the campus. Located directly across Route 202/206 from the campus is the nearly one million-square-foot Bridgewater Commons Mall – the second largest mall in New Jersey – featuring more than 300 stores and eateries. Restaurants, numerous country clubs and public golf courses, movie theaters and daycare facilities are also in proximity.
The Cushman & Wakefield team of Director Greg Ficke, Executive Vice President David Sherman and Senior Director Harlan Hollander represented Valeant in the transaction. SJP was represented in house by Executive Vice President Jeff Schotz and Senior Vice President Peter Bronsnick.
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.