An investment manager has acquired a nearly 126,000-square-foot industrial building in Somerset County, marking its third such purchase in the region in two months.
A family-owned stone company is taking more than 24,000 square feet of industrial space in East Rutherford, according to a brokerage team with NAI James E. Hanson.
Larken Associates has broken ground on a new boutique office building in Branchburg, in what will mark the expansion of an existing property that the real estate firm purchased in 2017.
A developer is hailing the lease-up of a new 126-unit apartment complex in Morris County that has revitalized the former site of a blighted industrial property.
A private equity firm has purchased a 30,000-square-foot medical office building in Edison, under a newly completed transaction by Colliers International.
It is anticipated that state regulators will unveil the application process at any time within the next several weeks in order to commence the processing and issuance of recreational cannabis licenses in New Jersey. Thus, there is considerable excitement amongst real estate operators and potential cannabis businesses for the inevitable rapid and (likely) significant growth of the cannabis industry in New Jersey in the coming months and years. Notwithstanding such, as cannabis businesses will be highly regulated at both the state and local level (and remain illegal under federal law), it is critical that property owners and business owners fully evaluate the many regulatory, zoning, operational, and financing challenges associated with utilizing properties for cannabis uses.
Construction and development has time and time again proven to be an unpredictable environment. That is especially evident in today’s climate amidst the rollercoaster of material and labor costs, shifting demand of assets and challenges navigating political landscapes. For any novice or even seasoned property owner, this provides an extra layer of challenges when it comes to development. A proactive solution for owners to mitigate risk and explore additional value is to secure a strong Construction Manager.
The phrase ‘Carbon Neutral’ is the latest climate-based trend we are seeing amongst some of the world’s largest companies, including Amazon, FedEx, Ford and many others. Becoming carbon neutral is the process of a building, or company, achieving net-zero carbon dioxide emissions. Carbon neutrality is achieved by reducing carbon emissions or a combination of offsetting emissions where they would be generated elsewhere.
A 1031 exchange (like-kind exchange) is one of the most significant tax advantages available to a real estate investor selling a property with large realized gains. By implementing this tax strategy, it is possible to defer tax payments on the sale of an investment property indefinitely. While like-kind exchanges are common, there are still many complexities to navigate. Given some of the proposed legislative changes put forth by the Biden administration and members of Congress, it may make sense to accelerate transactions into the 2021 tax year.