(Editor’s note: This story appeared in our October 2025 issue.)
Mark Shearer
Senior Managing Director, North Central Region
Rockefeller Group
How do you feel about the market versus this time last year?
The phrase I would use is ‘slowly improving.’ We are seeing more tours from brand name companies with great credit, but decision makers still aren’t ready to make a commitment. Liquidity is coming back into the market; Amazon is back in the market. Construction starts are down and the fundamentals are improving but there is still uncertainty in the market.
What is still the biggest source of uncertainty?
Lack of clear economic data, and trade policy. Both continue to keep occupiers and capital on the sidelines.
Are you factoring in rate cuts as you plan ahead?
We aren’t factoring in rate cuts. We have been underwriting on an untended basis. Capital is available and the market is fairly stable right now, which is a good thing.
How else do you plan to adapt, evolve or expand in 2026?
We are staying the course. Development is a long-cycle business. In 2026, we’d like to ‘lean in’ a little bit because the gap between buyers and land sellers has narrowed, which should allow for more opportunities next year.
Are you hiring? If so, how is the talent pipeline in New Jersey?
We have a great team in place. If opportunities arise that require additional help, I know that there is a healthy pipeline of qualified candidates in New Jersey.
Where have you seen the impact of artificial intelligence and other technologies?
From a personal standpoint, I used AI in particular to help make my review of data more efficient. I can drop in a development agreement that’s a few hundred pages and it will summarize it for me in 30 seconds. I don’t have to sit there with a notepad. It just makes the process easier and saves a lot of time.
Give us an asset class that intrigues you (that you don’t typically focus on).
We’re exploring multifamily in New Jersey and the Midwest out of this office. There is a need for quality, for-rent housing.
Are you buying or developing outside New Jersey?
Out of our New Jersey office, which is now known as the North Central Region, we had previously just focused on New Jersey and Pennsylvania but have expanded to the Midwest. However, Rockefeller Group develops office, industrial and multifamily all over the country, with regional offices in the Northeast, Mid-Atlantic, Southeast, Rocky Mountains, Southwest and West.
Where else do you see opportunities going forward?
Along with multifamily, we are seeing industrial opportunities for underdeveloped sites in northern New Jersey.
Getting to know you
Your go-to breakfast or lunch
Our office go-to lunch is anything from the Millburn Deli in Morristown.
Best thing you read, watched or listened to this year
Clarkson’s Farm on Amazon Prime. It’s British humor NIMBYs.
Place you’ve never visited but would like to
My daughter spent a month in Australia and I’m jealous. I would love to go there.
Mobile app you can’t live without
Google Maps
Favorite sport or team
I grew up in Baltimore so I’m a Ravens fan, but I love playoff baseball.
Fad or trend you’d like to see come back
Making eye contact with your neighbors, not your phone.
Fad or trend you hope never comes back
Vinyl tops … nothing says luxury like a sheet of plastic.
