New Jersey remains one of the most attractive markets for cold storage users, but meeting that demand can be challenging for developers. By Steve Lubetkin While New Jersey was sweltering its way through a record-setting heatwave in mid-July, demand for…
A new town center is taking shape in Burlington County, serving as the focal point of more than 1,000 homes within a master-planned, 500-acre development that is two decades in the making.
A landmark package of new rent control laws passed by the New York State government in mid-June appears to have kick-started a new kind of boom for the New Jersey real estate market. The laws, which dramatically strengthened tenant protections in New York City, took key steps such as repealing what was known as the vacancy bonus provision, which had allowed a property owner to raise rents as much as 20 percent each time a unit became vacant.
Messaging from Trenton over the last several months, “airing dirty laundry” and delayed payments and responses to companies involved in the state’s incentive programs are scaring away legitimate businesses from setting roots in New Jersey. Businesses need certainty and clarity. Why don’t we pivot the conversation to one about how to make robust investments in our people and infrastructure without any further distractions and political roadblocks?
As you’ll read in this month’s cover story, developers are preparing to add millions of square feet of new space to New Jersey’s exceedingly tight industrial market. Yet experts say demand will continue to outpace supply as those projects come online in 2020 and 2021, thanks to the continued upside of e-commerce and the chronic lack of developable land in the state.
Having built nearly 800 apartments in an emerging section in Jersey City, veteran developer Sandy Weiss and his firm now hope to replicate that approach — seeking to build on their experience of trying to build a new neighborhood from scratch. The company is the designated master redeveloper for about four city blocks just east of the New Jersey Turnpike extension, where it has proposed building more than 2,300 apartments for a mix of income levels.
Top Safety Products, a business that builds first aid kits for the construction industry and a host of others, has been serving its clients for three decades. But the Branchburg-based firm is now primed to expand with the help of new products and an increasingly diverse group of customers.
In our July issue, we detail the efforts of New Jersey’s largest brokerage and service firms to support diversity and inclusion among their employees. This is nothing new for industry giants like CBRE, JLL and Cushman & Wakefield, but it’s become increasingly clear that these efforts are critical to recruitment, retention and overall employee culture. It’s why you’ll find these firms taking pains to promote and cultivate networking groups tied to gender, racial, lifestyle and other forms of diversity. That only stands to grow in our own local market and globally.
A new stock of luxury, market-rate apartments is beginning to take shape in downtown Newark, where stakeholders hope to attract the type of rental population that can create a 24-hour, seven-day neighborhood that has long eluded the central business district.
Developers say they’re encouraged by the early returns, but are preparing for the market to be tested by larger-scale projects and an influx of additional units. City officials are also preparing for what could be a dramatic uptick in interest from builders — which they will have to balance with public policy goals such as expanding affordable housing for Newark residents.
With roots that date back more than 100 years, a Parsippany-based firm that provides janitorial, security, concierge and other services has seen its business spike in recent years amid the wave of new construction and new ownership within the multifamily space.