Onyx Equities and JLL have unveiled new plans and new possibilities for the sprawling former Celgene Corp. campus in Summit, where they’re now marketing two high-end office buildings and a redevelopment site at the heart of the nearly 640,000-square-foot property.
No summer slowdown for CRE, but a time to reflect, recharge and reset before a busy fall
While there is a sense of uncertainty in the market due to rising interest rates and the fear of a possible recession on the horizon, we have not seen a slowdown in deal activity; however, for the first time in years, it does appear that clients and others in the industry are taking a minute to breathe to get a better sense of necessary market adjustments. Since the onset of COVID, we have not had a normal summer in that the last two years have been nonstop deal flow year-round. This year, for the first time in a long time, we are seeing clients take a week or two to go on vacation and enjoy time with family. This is completely normal, and quite frankly, much needed.
