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EDITOR ’S
NOTE
SYSTEM
UPDATES
We often talk about health care as
a driver of commercial real estate
leasing and
construction
activity in New
Jersey, one
that becomes
increasingly
important as
our population
ages. That
trend seems to
take on added signifi cance in New
Brunswick, a place that for decades
has leaned on its hospitals and
academic medical institutions to
spur economic development.
As you’ll read in this month’s cover
story, the city is marking its latest
and perhaps most monumental
investment in health care with
the opening of the 12-story,
520,000-square-foot Jack & Sheryl
Morris Cancer Center. Executives
with RWJBarnabas Health, the
Rutgers Cancer Institute and
other key stakeholders unveiled
the facility in mid-May, hailing
the arrival of New Jersey’s fi rst
freestanding cancer hospital and
Elsewhere in this edition, we
highlight how Morristown has
become a focal point as blue-chip
companies make major real estate
investments to help fortify and
energize their workforces. That
was on full display in late May as
Sanofi opened its new $130 million,
260,000-square-foot offi ce building
at SJP Properties’ M Station
Our June issue also includes our
coverage of NAIOP New Jersey’s
38th annual Commercial Real Estate
Awards Gala, where esteemed
developer Jeff Milanaik received
the Charles Klatskin Lifetime
Achievement Award. He was
among fi ve individual and company
honorees at the May 15 event,
where the chapter also revealed its
one of only 13 in the country, part of
coveted Deal of the Year awards in
a $1 billion project that has brought
fi ve categories, making for another
top-tier patient care and cutting-
...we’re lucky to have we’re lucky to have we’re lucky to hav
memorable night at the must-attend
edge research labs under one roof.
a an industry that has n industry that has
industry gathering.
It’s also the centerpiece of a broader
You can fi nd those stories and
remained vibrant, remained vibrant, emained vibrant
investment in RWJBarnabas Health’s
more in the latest edition of Real
physical footprint. The Morris
active and engaged
Estate NJ, as we move beyond a
Cancer Center, made possible by the
busy spring conference season that
philanthropy of one of the state’s
despite the daily
didn’t disappoint. As I often say,
most prominent real estate families,
we’re lucky to have an industry
uncertainties around ncertainties around ncertainties aroun
is part of a $1.5 billion program by
that has remained vibrant, active
the hospital system and its partners
the econo the economy and
and engaged despite the daily
that also includes new facilities
uncertainties around the economy
in Livingston and Tinton Falls,
government policy... government policy.. vernment policy.
and government policy, so here’s
ensuring that cancer patients and
hoping for more of the same as we
their families don’t have to leave
gear up for the second half of the
the state for treatment. And it’s the
latest and clearest example of the
increasingly vital role of ground-up
development in New Jersey’s health
care sector, one that’s poised to
continue as hospitals race to stay
competitive.
campus. The health care giant’s
nearly 2,000 employees in the town
will join those from Deloitte LLP
and Valley Bank, which also occupy
new ground-up buildings, and local
offi cials expect there’s more to
come as other corporations set their
sights on the acclaimed downtown.
year. We’ll continue to cover it all
in these pages and online at RE-NJ.
com.
Until next time, thanks for reading.
Enjoy the issue!
Joshua Burd
Editor
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