Rising interest rates are weighing on New Jersey’s multifamily pipeline, at least in the near term, but have seemingly not dampened the longer outlook for new construction.
NAIOP New Jersey welcomed a crowd of 300 for its annual President’s Awards and Hall of Fame Dinner, honoring eight commercial real estate industry leaders spanning multiple generations, in one of the association’s most popular events of the year.
Interest rate concerns have permeated the commercial real estate landscape in New Jersey and beyond — including the stalwart multifamily sector, which has enjoyed years of rent growth, low vacancy and strong absorption driven by wholesale demographic shifts. Investors and developers are now wrestling with how to forge ahead with deals and projects despite the uncertainty, as they wait to learn how many more rate hikes are still to come.
Jersey City is still in the earliest stages of its well-chronicled renaissance, the city’s mayor said Thursday, while projecting a nimble approach to development in the face of economic headwinds and a continued focus on lesser-known neighborhoods outside the downtown.
NAIOP New Jersey’s annual gala drew a registered crowd of more than 800, in an event that celebrated the state’s commercial real estate sector and the association that guides it.
Real Estate NJ was thrilled to welcome a sold-out crowd to our recent event — The View from the Top: A Conversation with Leaders in Logistics Real Estate — at The Highlawn in West Orange. More than 200 attendees turned out to hear from five top industry executives — Jeff Milanaik of Bridge Industrial, Fritz Wyler of Prologis, PJ Charlton of CenterPoint Properties, Britt Winterer of Link Logistics (a Blackstone company) and Rob Kossar of JLL — for a timely, wide-ranging discussion on the state of the industrial real estate market.
The New Jersey Institute of Technology unveiled the new Paul Profeta Real Estate Technology, Design and Innovation Center, made possible by the largest-ever gift to the Newark-based university.
State officials are seeking to “provide a stronger response” to developers looking to build around NJ Transit’s rail and bus stations, hoping to jumpstart a plan to monetize the agency’s vast but underutilized real estate portfolio.