Brick-and-mortar retailers are largely optimistic about their prospects this year, according to an annual survey by Levin Management Corp., amid easing concerns about labor shortages and momentum built during a strong 2022.
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.
Apartment design, development evolving to meet growing pool of renters by choice
More U.S. households are renting apartments now, than at any point in the past 50 years, according to the PEW Research Center. Many of today’s renters do so by choice, citing greater flexibility in lifestyle, liquidity and maintenance. Increased mortgage rates, rising inflation and uncertain economic times all help to bolster the current multifamily rental market. While apartment leasing itself is forecasted to remain strong in 2023, the resident experience continues to evolve to better meet the needs of a growing population of renters by choice.
