With a limited supply and an increasingly savvy approach to logistics, tenants are pushing the historical boundaries of the New Jersey industrial market and expanding not only westward, but to the southernmost parts of the state and to the east to New York City. As occupiers explore these new frontiers, developers and brokers in New Jersey are following suit with a more regional approach to the warehouse and distribution sector.
Features
Real Estate NJ goes in depth on the latest trends, success stories and critical issues facing the commercial real estate industry. Hear what is on the mind of the industry’s power players and get expert analysis as we give you the deepest look inside the market.
After a decade of success, Dermody begins final phase of Logan Township industrial park
Dermody Properties’ 1,100-acre logistics park in Logan Township has attracted a long list of well-known users over more than decade. And the firm is now set to enter its last phase of development — breaking ground on two buildings that will add another 563,000 square feet to the portfolio.
Change agents: How Yorktel is guiding clients toward ‘next-gen’ workspaces, collaboration technology
Yorktel, a provider of video and audio communications services, has become a guiding hand for companies that are transitioning to so-called next-generation workplaces. That has meant advising clients on everything from choosing the right videoconferencing equipment to picking the optimal conference rooms, huddle rooms and other collaboration spaces.
Hard Rock CEO Allen hopes new hotel, casino will strike a different tone in Atlantic City
The new Hard Rock Hotel & Casino will open June 28, with a model that aims to set a new standard in Atlantic City. For one thing, the resort will have an added emphasis on entertainment, leveraging Hard Rock’s own vast network of performers to help program the venue and bolster other nongaming revenue streams such as meeting business and hotel stays. But its owners have sought to be different from past generations of New Jersey casinos in another way, focusing on community outreach that they say will continue well past the grand opening.
Bridge details 1.7 million sq. ft. industrial project in Somerset, efforts to restock N.J. pipeline
Bridge Development Partners is planning a three-building, 1.7 million-square-foot industrial complex in Somerset County after acquiring parcels from two separate sellers, part of an effort to refill its pipeline in New Jersey after a blockbuster portfolio sale last year.
Progress, with continued uncertainty: Questions remain as affordable housing moves forward in New Jersey, stakeholders say
The state’s long-running battle over affordable housing policy is still rife with uncertainty and unanswered questions, stakeholders say, even for the roughly 200 towns that have reached settlements on how they will zone for new development.
With an eye on technology, Camden tower will be built to convert parking to office space
The developers of a new office tower in Camden are building with an eye toward driverless vehicles and carpooling, with a design that allows them to convert part of a parking structure into additional office space if the need for parking declines.
Depth and diversity: Women leaders have helped drive growth of CSG real estate group
Diversity is a point of emphasis for everyone at Chiesa Shahinian & Giantomasi, also known as CSG, one that is highlighted by its team of real estate lawyers. Women account for nearly a third of the members and half of the nonmembers within CSG’s real estate practice, which includes about 27 attorneys. Across all groups, women represent about a quarter of the firm’s members, a total that has continued to rise in conjunction with its overall growth in recent years.
Strength in numbers: Brogan has led the effort to grow NJAA’s membership, impact and influence
The growth of the New Jersey Apartment Association over the past three years has been tough ignore: The organization has pushed to expand its ranks, create new benefits to members and raise its profile and influence among policymakers and fellow business leaders. Those strides have garnered national attention for both the organization and its leader.
Developer finding success with high-end condo project in Weehawken, its first in New Jersey
With move-ins slated to begin this month, Landsea Homes is off to an auspicious start at Avora, its new upscale condominium project in the Port Imperial section of Weehawken. The developer has sold 40 percent of the project’s 183 homes — with a formula that includes resort-style amenities, sustainable construction and what Gabe Pasquale proudly describes as a “bullseye view” of Midtown Manhattan.
