Amazon said it won’t reopen its search for a second headquarters after pulling out of New York City, but who’s to say that Newark and other shortlisted cities will just quietly step aside?
Many market watchers say that New Jersey real estate has become increasingly attractive to investors from beyond the state. Some believe that trend could only grow under the next generation of the embattled EB-5 visa program.
A new residential and academic building for nearly 400 Rutgers University students in Newark is on track to open this summer after topping out earlier this month.
Gov. Phil Murphy’s economic vision calls for a State of Innovation that builds a stronger and fairer economy in New Jersey and sets goals related to faster job growth, faster median wage growth, increased venture capital investment, closing the racial and gender wage employment gaps and encouraging thriving urban centers. These are laudable goals and I believe we will get there, if we are careful in how we invest our scarce financial resources, which include incentives for the workforce so desperately needed and the targeted industries that generate the jobs required to help achieve these goals.
Edgewood Properties is doing its part to help those impacted by the partial government shutdown, allowing federal employees who live at its buildings to defer their rent payments. In the process, it hopes other apartment operators will follow suit.
What does the year 2019 have in store for New Jersey’s commercial real estate market? We recruited some of the most influential developers, professionals and thought leaders in New Jersey commercial real estate to give us their predictions for the year ahead.