The Walsh Company has enjoyed a fast start since it was relaunched last fall, with new assignments including roles as a general contractor, project manager and client representative. But Ed Walsh has also set his sights on an altogether new business: a lighting platform that he says provides users with greater control, efficiency and transparency than traditional fixtures.
Cover Story
Our monthly cover story in Real Estate NJ is a must-read, as we bring you an insider’s look at the decisions, personalities and economic conditions that are shaping the market.
Landlords brace for fallout, search for solutions with retailers battered by COVID-19 shutdown
New Jersey shopping centers that once buzzed with a steady hum of activity have been quiet since late March, with most retail businesses shut down to contain the spread of COVID-19. Retail landlords are now scrambling to figure out how to deal with tenants who say they can’t pay rent because their revenue streams have stopped cold — even though property owners still have their own financial obligations.
New construction in 2020, 2021 unlikely to quench demand for New Jersey industrial stock
Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.
With new community on the rise, Weiss has his eye on another large Jersey City redevelopment
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.
Making a market: Developers, city officials look ahead as renters arrive in downtown Newark
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.
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.
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.
