A private equity firm has sold two 15-story apartment towers about 10 minutes outside downtown Newark, according to brokers with HFF who orchestrated the transaction.
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.
Keeping it simple
A major source of excitement for those who make a living in the industrial business is the rise of e-commerce tenants and many others who need to be close to population centers represent actual growth in New Jersey’s economy. That means new businesses, new jobs and new requirements that aren’t simply backfilling someone else’s space, given that the tenants that have been here for decades aren’t going anywhere themselves.
Wired for success: Rating system could change how developers approach connectivity, infrastructure
Earlier this year, the rating service known as WiredScore released a full-fledged set of guidelines, providing a roadmap for professionals involved in new commercial developments. And with the growing importance of data and internet connectivity, the rating system offers the potential to play a major role in office leasing going forward.
