SJP Properties today broke ground on a new 500,000 s/f office and retail building that will house the US headquarters of the Pearson learning company.

Waterfront Corporate Center III is located on the final site of a 26-acre waterfront, mixed-use master planned neighborhood in Hoboken, NJ.

SJP Properties is developing the building in partnership with USAA Real Estate Company. Pearson, which earlier this year signed a 200,000 s/f lease at the property, will be the site’s lead tenant.

Jos. L. Muscarelle, Inc., one of the oldest investment and development firms in New Jersey, has recently closed on two major deals.
Freedom Bank took 7,726 s/f  of office space in the Muscarelle Building located at Essex Street at Route 17, Maywood, NJ.
A three-year lease was also signed with Public Service Electric and Gas Company (PSE&G) for another Muscarelle building  located at 7 Robinson Road, Lodi, NJ.
The utility company will occupy the full 15,000 s/f building which sits on three-acres of land.