A decade after a landmark law that changed the landscape of environmental cleanups in the state, stakeholders are now mulling how to improve New Jersey’s site remediation program while navigating other proposed changes by policymakers.
Michael Novak, president of Atlantic Environmental Solutions Inc. in Hoboken — Courtesy: AESI The Licensed Site Remediation Professional program has undoubtedly eased the state’s backlog of contaminated sites. In the years to come, that volume could be a fraction of the…
Vision Real Estate Partners is ramping up the next phase of its pipeline in New Jersey, relying on its “assembly line mentality” and the mix of creativity and capital that has allowed it to thrive with high-profile redevelopment projects in recent years.
JLL has regionalized its industrial platform under the leadership of David Knee and Rob Kossar, who are based in JLL’s East Rutherford office and have established their team as a dominant player in the market.
Medical tenants have become increasingly critical to the retail sector, creating a new opportunity for landlords who have grappled with e-commerce and bankrupt retail chains. New Jersey is no exception, and the opportunity comes as urgent care centers, physical therapists and other businesses experience rapid growth spurred by major changes in the health care industry.
For a business that started in Manhattan, New Jersey seemed like a logical extension for CityMD. But the urgent care chain says that’s as much about culture as it is about geography or the 5 million people in the northern part of the state.
With nearly 1,000 apartments under construction and some 2,000 more in its pipeline, Capodagli Property Co. is preparing for the next phase of its growth by launching a new hospitality platform that will bring cafés and restaurants to its future developments.
In crafting the design of the new Cap Diner, Nicolas Geeraerts said he wanted to “bring a little bit” of New York and Brooklyn, while also staying true to New Jersey. He also aims to create a younger, millennial vibe that is also going to attract families. The overall objective is to create a place “that is approachable, pricewise, for everybody (and) … where a community can get together without one person being better than the next,” said Geeraerts, who oversaw the development of a high-end food hall above New York Penn Station.
Slowly but surely, developers have begun to chip away at one of New Jersey’s most chronic issues when it comes to commercial real estate — the abundance of obsolete, aging office buildings that are no longer considered usable by modern standards.
Insiders say the prospect of legalized recreational marijuana could have substantial benefits for New Jersey’s commercial real estate market, even with a long list of risks and complexities.