Commercial Real Estate Women of New Jersey celebrated its 35th anniversary last week, drawing top development executives and service professionals to mark the milestone and hail the successes of the industry’s female leaders.
The Urban Land Institute honored a dozen commercial real estate projects and industry leaders last week as part of an annual awards dinner hosted by its northern New Jersey chapter.
The new federal Opportunity Zone program is far from perfect in its early stages, U.S. Sen. Cory Booker told a crowd of New Jersey real estate leaders on Monday, but it offers a powerful new incentive for the private and public sectors to steer economic development to low-income areas.
Amenities, collaboration space and access to transportation will all remain important in the office sector, experts say, but those features must be increasingly focused on wellness, sustainability and energy savings. That’s not to mention diversity and the ability for employees to choose how they work.
As tenants adopt a more regional approach to industrial space, New Jersey brokers must do the same and expand their focus to the Lehigh Valley and other neighboring markets. Brokers now have an opportunity to provide their clients with additional options beyond the core submarkets of northern and central New Jersey, developers say, noting that many regional tenants have already grown comfortable with casting a wider net.
Even in Bergen County — the home of the highest-grossing retail ZIP code in the U.S. — owners and operators are in a race to evolve and face no shortage of challenges.