Experts say New Jersey faces a growing challenge: While it’s still a major draw for pharmaceutical research and development, speed to market has become increasingly important to life sciences users. That means the state’s lack of move-in-ready lab space — and its lengthy approval process for new construction — puts it at a disadvantage to competing markets.
You may have heard by now about the rush for life sciences space in the wake of last year’s COVID-19 outbreak, which could still continue even after the virus is under control. New Jersey, of course, should stand to benefit with a deep pool of intellectual talent that rose to the occasion in the nation’s fight against the pandemic. That’s the good news, but tapping into that demand remains somewhat complicated.
After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.
How has the commercial real estate lending landscape changed from earlier in the pandemic? We assembled a panel of industry experts to tackle this month’s question.
Larken Associates has ramped up its multifamily development pipeline in recent years, as it looks to bring upscale apartments and amenities to lesser-known suburban submarkets.
A well-known family development firm is nearing completion of a 214-unit apartment complex in North Bergen, in what will be its first project with a second generation at the helm.
With some office workers returning to work in New Jersey, landlords have taken steps to keep them safe and healthy in their buildings. Those steps involve not only physical upgrades and new on-site technology, but the use of apps and digital platforms aimed at keeping employees informed, engaged and connected.
Landlords and technology firms say tools such as smart meters, sensors and cloud-based platforms can help reduce a building’s carbon footprint, which can come with the equal or greater selling point of cost savings on energy.