With millions of New Jersey residents ordered to stay at home, apartment owners and managers are set to play a critical role in the effort to curb the spread of COVID-19. They’re also bracing for a major impact from a teetering economy and the prospect of some residents being unable to pay rent, which looms large against the backdrop of paying their own employees, mortgages and property taxes. That’s not to mention the need to respond to tenant emergencies and disruptions to the supply chain, which have impacted everything from cleaning supplies to appliances
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.
Rutgers real estate program eyes new degrees, new investment as it looks to the future
With a foundation in place and support from many of the state’s top commercial real estate leaders, the Rutgers Center for Real Estate is now looking ahead to the next five years and beyond. The program’s leaders feel that further growth will hinge on expanding and fine-tuning the course offerings — such as creating a standalone real estate major and a master’s in real estate — while navigating the challenges of fundraising and scaling up to support their growing student population.
Morristown’s transformation set to continue with new office, residential projects
Morristown has become one of New Jersey’s premier transit-oriented areas situated within a unique urban/suburban setting. Morristown’s 24/7 vibrant downtown is defined by its walkable and rapidly growing retail and residential developments. The heart of the commercial corridor surrounds the Morristown Green, a two-and-a-half-acre park that is bordered by upscale housing, office towers along with many restaurants and shopping options, attracting a high concentration of millennials.
