Retailers and other industrial tenants have long counted on northern New Jersey as a hub for distribution into New York City, but the need for same-day and even two-hour delivery has pushed developers to make big bets in the outer boroughs.
As New Jersey has shown, the industrial sector has become the new darling of commercial real estate in recent years. That was all too clear from the sold-out crowd of more than 850 development executives and other key players who descended on this year’s I.CON event in Jersey City.
Many of the state’s top commercial brokers gathered recently for an annual event hosted by the Society of Industrial and Office Realtors, where the organization recognized some of the Garden State’s top deals of 2017.
Hundreds turned out Thursday for Monmouth University’s annual real estate awards dinner, which marked its 25th anniversary and honored an executive with Rouse Properties for his role in the plan to transform the Monmouth Mall in Eatontown.
A high-profile redevelopment project in Newark was honored Friday before a crowd of more than 500, winning an annual award from the United Way of Northern New Jersey.
Sustainable and ecofriendly projects were in the spotlight on Wednesday night, as the U.S. Green Building Council of New Jersey handed out its annual green building awards.
A crowd of more than 800 turned out Thursday for NAIOP New Jersey’s 31st annual commercial real estate awards gala, where the organization honored some of the industry’s top executives and unveiled its coveted Deal of the Year Awards.
In New Jersey’s booming industrial market — where rent growth is unprecedented and speculative development is rewarded — owners and investors still face a major challenge when it comes to deploying capital and keeping their pipelines filled.
State officials are weighing their options for modernizing the Department of Community Affairs, Lt. Gov. Sheila Oliver said last week, from electronic permitting to the potential to allow municipalities to privatize code enforcement. Far less certain is how they will tackle more high-profile issues such as affordable housing, shared services and the tax credit programs that have fueled development in recent years.