The state’s Business Action Center has long billed itself as a one-stop shop for helping companies grow in New Jersey and attracting new ones from out of state. That often means finding solutions for commercial real estate needs, from helping a scientist find lab space to assisting Amazon with its ever-growing network of fulfillment centers. It also means helping developers and their professionals navigate the web of state agencies that are involved in real estate decisions, from NJ Transit to the Department of Environmental Protection.
Government & Public Policy
From zoning disputes to the federal tax code, public policy affects the commercial real estate sector far more than you may realize. For industry leaders, government and politics demand constant attention.
Solving the parking problem: Goldberg sees a role for the state in urban redevelopment
To Carl Goldberg, the need for moderately priced, workforce housing continues to grow in New Jersey, but the cost of structured parking can be a significant hurdle. It’s why he sees an opportunity for the state to help local officials solve that equation.
EDA approves $14.7 million incentive for proposed Gucci call center in Jersey City
The state has approved a 10-year, $14.7 million tax credit to encourage luxury fashion giant Gucci to open a new 52,000-square-foot call center on the Jersey City waterfront.
American Water unveils new 220,000 sq. ft. headquarters in Camden
American Water has opened the doors to its new 220,000-square-foot headquarters in Camden, the first completed piece of a high-profile, billion-dollar redevelopment of the city’s waterfront.
BRC: Food company moving from Brooklyn, buys Perth Amboy warehouse
A food company has acquired a 62,000-square-foot industrial building in Perth Amboy as part of a plan to relocate from Brooklyn, brokers with Bussel Realty Corp. announced.
EDA seeking applications for grant program for ailing office, retail buildings
The state Economic Development Authority is accepting applications for a new grant program aimed at helping municipalities and counties find solutions for vacant or underused commercial properties within their borders.
CREW NJ honors industry leaders at 35th anniversary event
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.
Startup moving to Kearny Point, leasing 113,000 sq. ft.
A fashion design and supply chain startup is heading to the sprawling Kearny Point development, where it will occupy a new 113,000-square-foot manufacturing facility.
Capital, rising rents and motivated investors lead to favorable CRE outlook
Recent surveys show support for the notion that the fundamentals underpinning commercial real estate will be stronger in 12 months than they are today. This is thanks in part to the belief that rents will rise and the idea that the benefits of the new federal tax law, including the Opportunity Zone program, will bring capital off of the sidelines.
Elizabeth site slated for new residential development
A developer has closed on a former brownfield site in Elizabeth, paving the way for a mixed-use project that will include nearly 50 new homes.
