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Policy Page
Creative deals fueled by investors’ demand for niche property types

The consensus of this year’s Emerging Trends in Real Estate report for the U.S. and Canada report is one of cautious optimism that we will ride out any near-term slump and be well positioned for another period of sustained growth and strong returns, although a short and mild recession is expected. The article also highlights 10 trends for 2023, many of which have led to creative project deals throughout New Jersey.

Industrial
Investor eyes 586,000 sq. ft. warehouse project after buying Salem County parcels

An investment group has purchased a 48-acre development site in Salem County, seeking to expand its holdings and capitalize on growing industrial rents in the region.

Retail
Levin Management inks 1.4 million sq. ft. in 2022 lease volume, as retail rebounds

Levin Management Corp. is marking a record year in leasing, thanks in part to a continued bounce back for brick-and-mortar retail in its regional footprint and across the U.S.

Government & Public Policy
Murphy calls for expanding liquor licenses in New Jersey, making pitch for long-stalled reform

A long-awaited reform to New Jersey’s liquor license laws could be coming soon, as indicated Tuesday by Gov. Phil Murphy, who cast the overhaul as a top priority during his State of the State address and previewed a plan to tackle the hot-button issue.

Industrial
Donnelly completes walls, steel for new 26,000 sq. ft. Wayne industrial project

Donnelly Construction has erected walls and steel for a nearly 26,000-square-foot warehouse in Wayne that’s on track to open by this spring, the firm announced Tuesday.

Industrial
Home Depot takes 1.3 million sq. ft. in Monroe, amid measured outlook for N.J. industrial space

Home Depot has leased nearly 1.3 million square feet of newly built industrial space in Monroe, in a sign of continued market demand despite a shrinking appetite by e-commerce users.

Office
Reports: Demand for New Jersey office space grows in 2022, despite economic headwinds

Office leasing in New Jersey rebounded in 2022, showing notable improvement from a year earlier despite a mixed fourth quarter and ongoing economic uncertainty.

Residential & Mixed Use
Hudson Atlantic touts strong 2022, inking $293 million in sales spanning 1,300 apartments

Hudson Atlantic Realty recorded more than $293 million in closings in 2022, its first full year in business, having completed 18 deals spanning more than 1,300 apartments.

Government & Public Policy
Murphy signs bill to allow third-party code inspections, drawing cheers from real estate industry

Gov. Phil Murphy has signed into law a bill that aims to speed up construction permitting in New Jersey, allowing developers to hire private-sector code inspectors if local officials cannot complete a review within three business days of a requested date.

Finance & Capital Markets
Developer of 300-unit Livingston rental project lands $127 million debt, equity package

A developer has secured nearly $127 million in debt and equity for a plan to build 300 new apartments off Route 10 in Livingston, in a set of newly announced deals by JLL.