It’s no secret that our coverage skews toward northern New Jersey, where you’ll find the bulk of the state’s commercial real estate market and investor base. Admittedly, that makes us prone to sometimes overlooking key stories in the southern half of the state, such as the ongoing wave of redevelopment in the city of Camden.
Those efforts have been polarizing as they’ve unfolded over the past decade, thanks to the outsized, controversial tax incentives that New Jersey has used to spur projects by large corporations and institutions. Such projects have transformed parts of Camden, but as you’ll read in this month’s cover story, city officials are now focusing on quality-of-life improvements that they feel will help draw new residents after decades of population declines. New housing is key to convincing the thousands of employees who now come to work in the city each day to live there, local leaders say, pointing to The Michaels Organization’s recently completed, 156-unit apartment building known as 11 Cooper Station. They also point to many other projects that are underway or in the pipeline, which would follow a $366 million investment in Camden’s housing stock during the past six to eight years.
Our May issue also details a plan by D4 Properties LLC, a family-owned firm based in Passaic County, to bring a new 272,000-square-foot industrial facility to the borough of Wanaque. The developer could start construction as soon as the third quarter after recently securing site plan approval for the project, seeking to lure tenants with a location just off Interstate 287 and minutes from Route 23. In the process, it would create a distinctive setting for a modern logistics center within the state’s Highlands Region, the roughly 60-mile stretch of mountainous terrain that is largely protected from new development.
Elsewhere in this edition, we bring you an interview with Michael Beckerman, the former public relations executive who is now a champion for technology in the real estate industry. His latest venture, known as CREtech Climate, is an offshoot of the conference, consulting and research platform that he launched five years ago as part of what he calls a “personal and professional mission” to galvanize real estate companies to reduce their carbon footprint. He hopes to do so with a continued focus on tech and by tapping the vast network he has built during his 35-year career in the industry.
You can find those stories and more in the latest issue of Real Estate NJ. It’s hard to believe that we’re already in May, but I’m happy to have it as we kick off the true peak of conference season in commercial real estate. Speaking of events, we were thrilled to welcome many of you to our April 26 program, “The View from the Top,” which featured some of the absolute top executives in logistics real estate. We’re grateful to all who attended, sponsored and took part in the program, which you can read all about in this issue and online at RE-NJ.com.
Until next time, thanks for reading and enjoy the issue!