Steven J. Pozycki, founder, chairman and CEO of SJP Properties — Photo by Jeffrey Vock for Real Estate NJ
By Joshua Burd
SJP Properties has announced the creation of a new division within the firm, formalizing its push to expand its third-party development and construction management business.
The developer on Monday unveiled what it calls SJP Project Solutions, which is aimed at extending its in-house capabilities to projects outside of its investment portfolio. With a track record of more than 30 years, the firm said it will target projects including build-to-suit and master-planned office properties, interior office fit-outs, luxury residential high-rises, mixed-use developments and turnkey lab and research facilities.
It expects to work on behalf of other owners, developers and corporate tenants.
“What we’ve learned from our experience managing projects on behalf of others is that the traditional project management model of hiring an outside firm to oversee contractors is fraught with inefficiencies that contribute to project delays, cost overages and time being wasted,” said Steven J. Pozycki, CEO of SJP Properties. “SJP Project Solutions is designed to eliminate those headaches, with the full accountability of our in-house professionals who are experts in every discipline, allowing communication to be streamlined through a single, highly coordinated team.
“We keep the needs of our clients squarely in focus, and foster a transparent process that affords them full control.”
SJP Executive Vice President Peter Bronsnick and Senior Vice President Andrew Natale oversee the SJP Project Solutions team, according to a news release. Bronsnick, who has more than 15 years of industry experience, joined the firm in 2012 and is responsible for managing its relationships with brokers, corporate tenants and project stakeholders, as well as coordinating in-house teams and third-party professionals.
Natale brings more than 15 years of construction and development experience to the role, having completed more than 2 million square feet of construction projects for a high-profile list of global corporations since joining SJP in 2014.
“Our experience as an owner means that we view our clients’ real estate as an asset, with a proven track record of effectively value engineering projects without sacrificing exceptional design and quality,” Bronsnick said. “That perspective only comes from having spent years fine-tuning our approach to achieve excellence, regardless of the challenges inherent to completing complex projects.”
SJP will benefit in the new business from being vertically integrated, which is increasingly rare in commercial real estate. The firm said that will allow it to oversee projects from beginning to end, including design and preconstruction, specialty bidding and awards and construction management.
Its recent third-party assignments include Prudential Financial’s 740,000-square-foot office tower in downtown Newark, which opened in 2015. The firm is now the development manager for Mack-Cali Realty Corp. in the plan to renovate and reposition Harborside Plaza 1, 2 and 3 in Jersey City.
SJP also oversaw the development of Panasonic Corp. of North America’s 340,000-square-foot headquarters in Newark, under a joint venture with Matrix Development Group.
All told, the firm has developed more than 25 million square feet, the news release said. It has also overseen millions of square feet of modern corporate interior fit-outs for major tenants, including Jet.com and EY in Hoboken.