Yesterday afternoon, when developer SJP Properties of Parsippany, NJ, broke ground for the first of two 13-story, 550,000-sf buildings of Waterfront Corporate Center, the city took the latest step in its dramatic resurgence. Wiley will occupy 400,000 sf on seven floors of the first building. Insignia/ESG represented Wiley in negotiations for the space and is the leasing agent for the rest of Waterfront Corporate Center.

"My wife grew up nearby in Union City," recalls Wiley chairman William J. Pesce, "and I grew up in Fairview. I used to come to Hoboken on Saturday nights. We've been away for years; not far away, but away. But looking around, what I see in terms of what has been accomplished here is just stunning.

"We looked at a number of options in Manhattan, in the suburbs, and even outside the region," Pesce continued. "But Hoboken has a neighborhood feeling, and it has great diversity. We liked that a lot." The state provided Wiley with incentives tied to job growth that could be worth $7 million over the next 10 years.