Industrial real estate is still surging as commercial real estate’s hottest property type, and that’s no more evident than right here in New Jersey, providing a chance to showcase the innovation and creativity that’s taking place in the industry.
Current Issue
Go inside the latest monthly issue of Real Estate NJ, the only New Jersey-based magazine dedicated to commercial real estate in the Garden State.
Taking cues
Newark’s dedicated blue-chip employers and anchor institutions have virtually all expanded or made commitments to grow, leading to billions of dollars’ worth of new commercial development. It’s a major reason why developers believe the time is right to, once and for all, bring new market-rate apartments to Newark’s central business district.
In Red Bank, Denholtz finds a new home and new opportunities
The convenience was hard to beat at Denholtz Properties’ longtime headquarters in Matawan, a three-story office building that sits directly off the Garden State Parkway. But the firm’s new office in Red Bank has much more to offer.
The next chapter in affordable housing in New Jersey
Since 2015, more than 280 towns in New Jersey have signed settlement agreements for their affordable housing obligations, while a judge has determined the statewide need to be about 155,000 units and experts project that about 50,000 of those will be created by 2025. Frankly, the court process is way too far down the road to try and move it back to the Council on Affordable Housing or another state agency. But that is not to say there are not some issues worth discussing as we move forward.
Developers see new, long-awaited opportunities in Red Bank
Red Bank is now embracing redevelopment and smart growth concepts more than it has in recent memory, insiders say, as evidenced by the growing list of projects that are now under construction or in its pipeline. That embrace is a long time coming for developers that have seen all the community has to offer — from its popular downtown to the Navesink River waterfront, along with a rich cultural scene and an affluent population.
Improved transit is key to New Jersey’s future
Legislation was enacted last November that requires NJ Transit to establish an office of real estate economic development and transit-oriented development to assess all its properties and annually recommend how best to increase NJT’s non-fare revenues. The goal is to enable NJT to have more funds to invest in its operations, maintenance and capital projects in order to improve performance for bus, rail and light rail passengers.
Good vibes
As you’ll read in this month’s cover story, local leaders in Red Bank are increasingly open to the idea of redevelopment and smart growth in their community. The 2.2-square-mile borough has long held the cachet of towns such as Montclair and Morristown, but new mixed-use projects have been few and far between.
Past meets present at NAI Hanson’s long-awaited new headquarters in Teterboro (SLIDESHOW)
NAI James E. Hanson opened its new 17,000-square-foot headquarters in Teterboro last fall, honoring its past while creating a modern workplace for its brokers, property managers and other employees.
Redevelopment of ‘white elephant’ in Parsippany is moving ahead, anchored by plans for downtown-style shopping and dining
Four years after acquiring a defunct office complex in Parsippany, Stanbery Development Co. is on a clearer path toward fulfilling its plans for a high-end, downtown-style destination at the 17-acre site, which includes about five acres in neighboring Hanover. Known as The District at 1515, the project calls for 100,000 square feet of retail space, 441 residential units and a hotel.
HFF opens new Morristown office, with an eye toward the future (SLIDESHOW)
HFF has opened the doors to the new home of its New Jersey office, a 13,000-square-foot suite in downtown Morristown that is meant to help the capital markets firm retain and attract talent.
