I could spend an entire day talking about everything I’ve learned since we launched Real Estate NJ a year ago, but here is one very important takeaway:
New Jersey’s commercial real estate industry is changing — and it’s changing very quickly.
To be clear, this was apparent long before we ever thought to create this publication. And it’s true that real estate is in transition in virtually every other market across the country. But there are forces at play that are distinct to New Jersey or at least especially pronounced here, from e-commerce and the apartment boom to the need to reinvent the suburban office park. And we’ve sought to highlight those trends every day and every month, while explaining how those forces impact pricing, public policy and technology.
You can expect nothing less in our January issue and in our special Market Forecast section, which features thoughtful, well-informed predictions from some of the top developers, professionals and other experts in the field. As you’ll find out, these experts have managed to tackle some familiar topics while pushing the issues forward in a meaningful way. We’re thrilled to have their insights on everything from investment sales and construction trends to the impact of driverless cars and the potential legalization of recreational marijuana.
You’ll find that looking to the future is a common theme in this issue. For our first cover story of 2018, we detail how SJP Properties is working to fill its pipeline for years to come. The powerhouse developer has partnered with Mack-Cali Realty Corp. to reposition the flagship Harborside complex in Jersey City, but SJP executives say it’s just the start of other third-party development and joint venture projects that it has in the works. All of this comes as the firm continues to add young, talented professionals to help sustain that pipeline in the long term.
Our January issue also includes a feature on Elberon Development Group, which has seemingly streamlined its business by returning its headquarters to Elizabeth and focusing on industrial buildings around the northern New Jersey port district. The company has undoubtedly evolved over a century in business, but this latest step could help it tap further into what many feel is the state’s strongest asset class — in a submarket that it knows well.
You can find those stories and more in the pages that follow. We’re excited to build on a successful first year and begin 2018 stronger than ever. In the months ahead, we plan to roll out new features online and in our monthly print edition to bring you even more coverage of the state’s commercial real estate sector, so please stay tuned. And as always, be sure to continue reading The Briefing to keep up with all of the latest industry news. As I said last month, best of luck in the year ahead! Thank you for your continued interest, support and feedback for our growing publication. Enjoy the issue!