JPMorgan, SJP partner for a Basking Ridge corporate project.

SJP Properties, in conjunction with JPMorgan Asset Management, has announced plans for a 344,000 s/ f headquarters-quality office building at Mountain View Corporate Center in Basking Ridge, N.J.

SJP Properties is planning a four-story class A office building on the remaining land parcels at Mountain View Corporate Center.

Steven J. Pozycki, founder and president of S JP Properties, stated: "We are thrilled to be partnering with JPMorgan Asset Management on this world-class development project. Having developed or acquired more than 2.5 million s/f of headquarters-quality office space in the 1-78/287 corridor, we are extremely confident that this new signature S JP development will set a new market standard for excellence."

The 344,000 s/f office building planned by SJP Properties has been designed to reflect the needs of corporations competing in a global marketplace. The building's corporate neighbors will include Citigroup, Lucent Technologies, Metropolitan Life Insurance Company, Morgan Stanley, The Chubb Group of Insurance Companies and Verizon Communications.

Strategically situated at a four-way interchange at Martinsville Road off Exit 33 of 1-78, Mountain View Corporate Center is convenient to Route 287, New Jersey Turnpike, Garden State Parkway, and is just 25 minutes away from Newark Liberty International Airport and less than 35 minutes from the Lincoln and Holland Tunnels.

Ben Gifford, managing director with JPMorgan Asset Management, said: "We are delighted that S JP Properties will be co-investing and partnering with us on this world-class development."

"We are confident that SJP Properties' tremendous development expertise and track record throughout the region, as well as within this submarket, of meeting the corporate real estate requirements of global corporations, will result in a successful venture at Mountain View Corporate Center."

In late 2004, S JP Properties signed one of the state's largest office leases ever--the 830,000 s/f Citigroup lease, in Warren township, N.J. Citigroup will be bringing 3,000 jobs to the Warren Corporate Center campus, which will house its new corporate operations and technology group, as well as its CitiTech Services division.