Page 7 - RE-NJ

EDITOR ’S
NOTE
TAKING NOTICE
New Brunswick has always had
a fl air for the dramatic when it
comes to the types of distinctive,
multifaceted
development
projects that
have shaped its
skyline in recent
decades. That’s
no different for
two high-profi le
buildings that
will open later
this year — the Jack and Sheryl
Morris Cancer Center and the fi rst
piece of the innovation campus
known as the HELIX — bringing
more than 1 million square feet of
commercial and clinical space to the
downtown.
They’re also bringing jobs —
hundreds, if not thousands — as will
Nokia Bell Labs’ new 360,000-square-
foot lab and offi ce tower when it
opens in 2028. All of which has
caught the eye of multifamily
builders. As you’ll read in this
month’s cover story, developers are
laying the groundwork for what
could be a new wave of apartment
construction in downtown New
Brunswick, seeking to meet the
needs of workers that will come
from the transformative, large-
scale commercial projects that
are taking shape. City offi cials
One longtime developer in the city
called it “a new renaissance period”
with respect to the commercial
investment, adding: “Like Monday
follows Sunday, the residential
development will be there to soak up
this new demand.”
Our March issue also includes a
profi le of The Marketing Directors
and its presence in New Jersey,
where it has become all but
ubiquitous in the luxury apartment
boom in Jersey City and other
top markets. That’s allowed the
residential development advisory
fi rm to grow well beyond its New
York City roots since it crossed the
Hudson River some three decades
ago, offering not only its fl agship
sales and leasing services but the
critical research and consulting
it provides to builders during site
acquisition, design and other phases
of development. To date, the fi rm has
leased more than 30,000 apartments
across 123 rental properties in New
Jersey, while selling another 5,400
homes in 34 condominium projects,
making it a dominant player in the
space.
Elsewhere in this edition, we
highlight the role that the fast-
spreading pickleball craze is playing
in New Jersey’s commercial real
estate market. Our story by Marlaina
Cockcroft explains, detailing how
indoor pickleball courts can fi t into
both retail and light industrial space,
often with features such as food
...developers are laying .developers are laying developers are layin
and beverage service and member
lounges. We’ve seen all of the above
the groundw the groundwork for
in recent years as national operators
and franchises such as Pickleball
what could be a new what could be a new hat could be a new
Kingdom, Sportime Pickleball and
wave of apartment
construction in
The Picklr race to expand in New
Jersey, where they’re drawn to the
region’s dense population and high
household income.
downtown New
You can fi nd those stories and more
Brunswick, seeking g
in our March issue, as we close out
to meet the needs to meet the needs
what felt like a fast-moving fi rst
quarter that had no shortage of New
rs of workers that will
Jersey commercial real estate news.
Here’s hoping that there’s more to
follow in the spring.
Until next time, thanks for reading
and enjoy the issue!
Joshua Burd
Editor
[email protected]
ome... com
say they’ve approved plans for
residential projects with more than
2,000 units since the start of 2022,
with hundreds more in the pipeline,
setting the stage for a major infusion
of new housing.
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. .