As of this writing, legislation to facilitate the timely review and inspection of construction activities, which have been on the rebound now that the worst of the pandemic is behind us, is awaiting Gov. Phil Murphy’s signature. We need the third-party option because the number of public-sector inspectors has substantially diminished over the last 10 years and will continue to do so.
Office
New Jersey’s office market is evolving by the day, but this fact remains: The state’s location and educated workforce make it a highly desirable place for tenants of all shapes and sizes.
Starting anew
The debate over New Jersey’s corporate incentive programs has been well-chronicled in recent years, but regardless of where you fall on the issue, there’s no denying their influence on the state’s commercial real estate market. That influence was all but gone for two years after Grow New Jersey and other subsidy programs were allowed to expire in summer 2019, with no immediate replacements in sight until Gov. Phil Murphy and lawmakers agreed on new incentives late last year. The state is now putting those offerings to work, starting with the jobs-based Emerge program that will fill the void left by Grow New Jersey.
