Page 26 - RE-NJ

24 OCTOBER 2025
OWNERS COUNCIL Q&A
MARK
SHEARER
SENIOR MANAGING DIRECTOR,
NORTH CENTRAL REGION
ROCKEFELLER GROUP
How do you feel about the
market versus this time last
year?
The phrase I would use is
‘slowly improving.’ We are
seeing more tours from brand
name companies with great
credit, but decision makers still
aren’t ready to make a commit-
ment. Liquidity is coming back
into the market; Amazon is
back in the market. Construc-
tion starts are down and the
fundamentals are improving
but there is still uncertainty in
the market.
What is still the biggest
source of uncertainty?
Lack of clear economic data,
and trade policy. Both continue
to keep occupiers and capital
on the sidelines.
Are you factoring in rate
cuts as you plan ahead?
We aren’t factoring in rate cuts.
We have been underwriting
on an untended basis. Capital
is available and the market is
fairly stable right now, which is
a good thing.
How else do you plan to
adapt, evolve or expand in
2026?
We are staying the course.
Development is a long-cycle
business. In 2026, we’d like to
‘lean in’ a little bit because the
gap between buyers and land
sellers has narrowed, which
should allow for more opportu-
nities next year.
Are you hiring? If so, how is
the talent pipeline in New
Jersey?
We have a great team in place.
If opportunities arise that
require additional help, I know
that there is a healthy pipeline
of qualifi ed candidates in New
Jersey.
Where have you seen the im-
pact of artifi cial intelligence
and other technologies?
From a personal standpoint,
I used AI in particular to help
make my review of data more
effi cient. I can drop in a devel-
Getting To Know You
YOUR GO-TO BREAKFAST OR LUNCH
Our offi ce go-to lunch is anything from the Millburn Deli in
Morristown.
BEST THING YOU READ, WATCHED OR
LISTENED TO THIS YEAR
Clarkson’s Farm on Amazon Prime.
It’s British humor NIMBYs.
PLACE YOU’VE NEVER VISITED BUT WOULD LIKE TO
My daughter spent a month in Australia and I’m jealous.
I would love to go there.
MOBILE APP YOU CAN’T LIVE WITHOUT
Google Maps
FAVORITE SPORT OR TEAM
I grew up in Baltimore so I’m a Ravens fan,
but I love playoff baseball.
FAD OR TREND YOU’D LIKE TO SEE COME BACK
Making eye contact with your neighbors, not your phone.
FAD OR TREND YOU HOPE NEVER COMES BACK
Vinyl tops ... nothing says luxury like a sheet of plastic.
opment agreement that’s a few
hundred pages and it will sum-
marize it for me in 30 seconds.
I don’t have to sit there with
a notepad. It just makes the
process easier and saves a lot
of time.
Give us an asset class that
intrigues you (that you
don’t typically focus on).
We’re exploring multifamily in
New Jersey and the Midwest out
of this offi ce. There is a need for
quality, for-rent housing.
Are you buying or develop-
ing outside New Jersey?
Out of our New Jersey offi ce,
which is now known as the
North Central Region, we had
previously just focused on New
Jersey and Pennsylvania but
have expanded to the Midwest.
However, Rockefeller Group
develops offi ce, industrial and
multifamily all over the coun-
try, with regional offi ces in the
Northeast, Mid-Atlantic, South-
east, Rocky Mountains, South-
west and West.
Where else do you see op-
portunities going forward?
Along with multifamily, we are
seeing industrial opportunities
for underdeveloped sites in
northern New Jersey.