Page 5 - Issue 45 Sept2020
P. 5

EDITOR’S NOTE
REALESTATENJTM 3
         PRESSING ON
As we know by now, it was wishful thinking to hope that we would
conquer this crisis by the fall. We are still social distancing, businesses
are still hamstrung and the springtime events that
were pushed to the fall have since gone virtual or have been canceled outright.
Here’s the good news: Our industry continues to forge ahead and make the best of the situation. As you’ll read in this month’s issue, landlords and brokers are touting an early but promising trend in the office market: New York City-based firms are seeking satellite locations in
the suburbs, albeit at shorter lease terms, in an effort to reduce density at the office, keep employees closer to home and reduce their reliance
br
Hackensack-based developer and landlord, which has undoubtedly been through its share of downturns but is now grappling with this unprecedented challenge. We spoke to David and Ryan Sanzari, the firm’s second and third generations of leadership, on how it’s continuing its history of working with tenants and is now preparing its buildings for life after COVID.
Elsewhere in our September edition,
you’ll read about a landlord and tenant that have doubled down on the long-term need for office space. BNP Paribas, the French banking giant, has signed a 20-year lease renewal for 150,000 square feet at the 1.1 million- square-foot, 36-story Newport Tower in Jersey City, whose owner has in turn launched a $10 million building upgrade. The result will be a space that is more flexible and modern for a workforce that is expected to spend less time in the office, but return nonetheless.
You can find those stories and more in the latest issue of Real Estate NJ. In
a year that many of you would like to forget, it was a memorable end to the
summer in that the industry seemed unusually busy. That’s not all that surprising when you consider that the industry lost its spring deal-making season and has been playing catch- up ever since. Not to mention the looming presidential election, which may be another incentive to close deals sooner rather than later.
As always, thank you for reading and please continue to reach out with your questions, comments and story ideas — and please stay safe while staying in touch. Enjoy the issue!
Joshua Burd
Editor
josh@re-nj.com
    ...landlords and
atellite locations in the suburbs...
   okers are touting
 an early but
 promising trend in the office market: New York City-based
   firms are seeking
   s
          on mass transit. While there are still questions about the long-term future of the physical workplace, insiders say it’s a chance to showcase New Jersey’s growing stock of newly updated office buildings.
The feature, which came courtesy of a Choose New Jersey panel discussion, is one of four this month that are set against the backdrop of the pandemic. In our cover story, we highlight the 75th anniversary
of Alfred Sanzari Enterprises, the
    




































































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