During his more than 25 years with Lincoln Equities Group — including a full decade as its top executive — Joel Bergstein has seen plenty of changes in the commercial real estate sector.
Brian Hosey has risen through the ranks of Marcus & Millichap and was hired in 2014 as the regional manager for its northern New Jersey office, where he now oversees a growing sales team of about 40 for the nation’s largest investment real estate brokerage firm for private clients.
After being turned down by seven other lenders, it was late last year when the developer of a 148-bed assisted living facility in East Windsor finally found the cash infusion it needed. It was the kind of opportunity that Kennedy Funding Financial was able to seize, even if other lenders could not.
Since taking office in late 2006, Woodbridge Mayor John McCormac has emerged as one of the most development-friendly and pro-business mayors in all of New Jersey. He and his economic development team can boast a record that includes two new power plants, millions of square feet of warehouse space and dozens of new retailers, banks and eateries that have opened during that time.
Woodbridge Mayor John McCormac is proud of the fact that, for all of the administration’s payment in lieu of taxes agreements with developers over the past decade, not one project has impacted the school system.
But Town Hall is still making sure that the school system is benefiting.
Transwestern, which is now marking five years since it officially opened in New Jersey, has since become a player in the state’s office, industrial and retail sectors. It has seen its annual transaction volume double since 2012 — while its property management portfolio has grown during that time to 4 million square feet from 485,000 square feet — with a platform that offers more than just brokerage services.
A decision by State Farm Insurance to vacate 300 Kimball Drive in Parsippany was not just an opportunity for Transwestern’s New Jersey team in 2012. It provided a roadmap for other landlords, investors and brokers to create new value within the state’s glut of suburban office stock.