Sumitomo Mitsui Trust Bank’s new space at Waterfront Corporate Center I at 111 River St. in Hoboken — Courtesy: SJP Project Solutions
By Joshua Burd
Sumitomo Mitsui Trust Bank has signed a new 30,000-square-foot lease in Hoboken that has allowed it to relocate within SJP Properties’ Waterfront Corporate Center I.
According to SJP, which developed the building nearly two decades ago, the chartered trust and banking company recently settled into its new ninth-floor space at 111 River St. The longtime tenant of the nearly 560,000-square-foot property has modernized its office with a new custom installation, allowing it to maintain its address and continue to benefit from quick access to Hoboken Terminal, PATH service and NY Waterway ferry service.
Newmark Managing Director Harrison Russell represented Sumitomo, which tapped SJP’s Project Solutions unit as its project and construction manager for the new office buildout.
“Having previously leased at Waterfront Corporate Center I, Sumitomo was satisfied with the property as its ideal strategic location and simply wanted to relocate within the same building for a seamless transition,” Russell said. “The company is pleased with its move within the building and is confident that this new space will provide the ideal environment for operational continuity.”
Sumitomo Mitsui was an early tenant of Waterfront Corporate Center I, which SJP completed in 2002 as the first piece of the three-building, 1.5 million-square-foot office and retail development along the Hudson River.
“The SJP Properties team is proud to support Sumitomo Mitsui Trust Bank in its move to the ninth floor of Waterfront Corporate Center I,” said Alexander Erdos, SJP’s senior vice president for leasing and development. “This project exemplifies our commitment to delivering tailored solutions that meet the unique needs of our tenants. We are pleased to have facilitated this transition and are confident that the new space will provide Sumitomo with an environment that fosters both operational efficiency and continued growth. SJP is thrilled to continue its long-term relationship with Sumitomo.”
