Besides New York City tourism, what are some of the biggest drivers of new development and investment in New Jersey’s hotel industry? We assembled a panel of industry experts to tackle this month’s question.
Market Sectors
New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.
Berger’s rehab project looks to tap into Newark’s growing hotel market
As Miles Berger knows all too well, transit access and proximity to Manhattan have been longtime drivers of Newark’s office market. He also knows that those benefits play a major role in the city’s lesser-known tourism sector. It’s why Berger is taking a major step to upgrade his hospitality portfolio in downtown Newark: a gut renovation of a 90-year-old hotel that will result in a new state-of-the-art property near the city’s Military Park.
