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.

Government & Public Policy
Three more co-working locations join EDA program for rent grants

Three female-led co-working spaces have joined the growing list of locations that are eligible for rent support grants under a program offered by the state Economic Development Authority.

Government & Public Policy
Biotech firm, weighing 90,000 sq. ft. HQ in Plainsboro, wins EDA tax credit approval

The state has approved a 10-year, $12.8 million tax credit package to encourage a biotechnology company to expand in Mercer County, with the potential to take 90,000 square feet at a former Bristol-Myers Squibb headquarters campus in Plainsboro.

Government & Public Policy
EDA unveils new loan program for brownfields cleanup, redevelopment

State officials have added a new financial tool for property owners seeking to clean up and redevelop contaminated sites in New Jersey.

Residential & Mixed Use
Developer lands HMFA tax credits for South Jersey affordable housing projects

A developer has secured $32 million in financing commitments for a pair of affordable housing projects in Cumberland and Camden counties.

Retail
Already a destination, Garden State Park prepares to add sports betting to retail and restaurant mix

A joint venture is starting on the final piece of more than 1 million square feet of retail and dining space in Cherry Hill, where it has created a destination over more than a decade of development.

The site is now primed to draw even larger crowds later this year with the completion of a new sports book, bar and restaurant, thanks to the recent legalization of sports betting in New Jersey.

Retail
Retailers ink 9,500 sq. ft. at new Jersey City rental project

Five retailers have combined to lease nearly 10,000 square feet on the ground floor of a newly built, 163-unit luxury apartment building on the west side of Jersey City.

Residential & Mixed Use
AC Devco eyes $62 million expansion of Stockton campus in Atlantic City

The next phase of Stockton University’s new campus in Atlantic City could begin as soon as this fall, with plans calling for a six-story residential building for more than 400 students.

Professional Services
Genova Burns hires former deputy AG in real estate, land use groups

Genova Burns has bolstered its team of real estate and land use attorneys, hiring a former deputy state attorney general as an associate in its Newark office.

Policy Page
Trifecta of sweet spots: Urban revival, suburban makeovers and industrial boom

Commercial real estate developers and their professionals are a tough breed of entrepreneurs who thrive on thinking outside the box. My recent observation of presentations to the judges for NAIOP’s Deal of the Year awards (to be announced at the May 16 Gala), confirmed the latent creativity and tireless work ethic in this business — a business that is, in reality, all about hospitality and human resources as developers and brokers focus on creating amenity-rich spaces to compete for tenants and the modern workforce.

Office
Bergen County acquires 34,000 sq. ft. Hackensack office building

The longtime owner of a 34,000-square-foot office building in Hackensack has sold the property to one of its tenants, the Bergen County government, under a deal arranged by NAI James E. Hanson.