A spate of public and private investment is transforming the area around the train station in Berkeley Heights and allowing this small township on the western edge of Union County to reimagine a walkable and commuter-friendly downtown.
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.
Real Estate NJ’s 2024 Market Forecast
After finding its footing in the pandemic, the commercial real estate market was back on its heels by late 2022 thanks to fast-rising interest rates and fears that the worst is still to come. Developers, investors and other industry stakeholders in New Jersey are now bracing themselves for more uncertainty in 2023, as they also prepare to seize the opportunities that often come with economic distress.
NAIOP NJ’s New Year’s resolution: Let’s get the next Energy Master Plan right
Overhauling the Energy Master Plan is an opportunity for impacted stakeholders, like you, to help improve what is currently an unrealistic policy document that has done little to accelerate achieving its lofty goals. Perhaps most striking about the current EMP is it lacks an unbiased estimate of what it’ll cost ratepayers, including commercial real estate owners and tenants. Gov. Phil Murphy acknowledged this glaring omission when he announced the 2024 EMP will “seek to better capture economic costs and benefits, as well as ratepayer impacts.”
Win-win
It doesn’t take long to realize that golf and commercial real estate go hand in hand, but it was only recently that I learned of a new, rather unexpected connection. It comes by way of Old Bridge in Middlesex County, where the developer of a new nine-building, 4.2 million-square-foot industrial park has just opened an 18-hole public golf club on more than 200 acres. As you’ll read in this month’s cover story, the two properties are roughly three miles apart but are both critical pieces of the plan by 2020 Acquisitions.
