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NJBIZ Power 50: #5 Steven J. Pozycki — SJP Properties

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If it seems like it can't be done, somehow Pozycki always seems to be doing it.

The skyscraper he’s building for Prudential Financial in Newark is going up at breakneck speed, and his firm is preparing to cut the ribbon on Pearson Education’s new headquarters in Hoboken.

If these sound like projects you’ve been hearing about for a few years now, you’re right. But sources say SJP has lined up United Parcel Service as its next build-to-suit office project, this one in Parsippany at its flagship Morris Corporate Center.

“He’s picking up another building in the suburbs at a time when nobody’s building in the suburbs,” one source said. “That’s big, because who’s building in the ’burbs on corporate campuses any longer?”

SJP also snuck in at the end of 2013 to ink the largest new office deal of the year — Valeant Pharmaceuticals’ 310,000-square-foot lease in Bridgewater.

And let’s not forget that his firm will soon open the first of two 47-story residential towers in Fort Lee. The project, known as The Modern, sits alongside the George Washington Bridge, and will start to showcase the potential that developers have been promising for some 40 years but could never seem to fulfill.

Notable
How do you sum up Pozycki in 50 words or less? One fellow developer took a crack at it: “Obviously, he continues to be probably the single major player in the office sector. It’s no secret that the suburban office asset class in New Jersey is under duress. And (The Modern) is probably going to be the signature project to open in New Jersey this year.”

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