Sponsored Content
The value of a pre-construction and development manager
Construction and development has time and time again proven to be an unpredictable environment. That is especially evident in today’s climate amidst the rollercoaster of material and labor costs, shifting demand of assets and challenges navigating political landscapes. For any novice or even seasoned property owner, this provides an extra layer of challenges when it comes to development. A proactive solution for owners to mitigate risk and explore additional value is to secure a strong Construction Manager.
Designing carbon neutral warehouses and last mile facilities
The phrase ‘Carbon Neutral’ is the latest climate-based trend we are seeing amongst some of the world’s largest companies, including Amazon, FedEx, Ford and many others. Becoming carbon neutral is the process of a building, or company, achieving net-zero carbon dioxide emissions. Carbon neutrality is achieved by reducing carbon emissions or a combination of offsetting emissions where they would be generated elsewhere.
Autonomous vehicles will bring big changes to New Jersey real estate
As far back as 1957, advertisements in the nation’s leading magazines promised that, “one day, your car may speed along an electric super-highway, its speed and steering automatically controlled by electronic devices embedded in the road.” In the 64 years since then, there has been tremendous technological progress that makes this vision on the brink of becoming reality.
At long last, new development incentives on the horizon in New Jersey
The state’s newly created Aspire Program — the successor to the Economic Redevelopment and Growth (ERG) Grant Program — is an aggressive tax credit program designed to encourage redevelopment projects using incentive awards to reimburse developers for certain project financing gap costs. The Aspire Program includes incentives for the development of both commercial and residential projects.
As with its predecessor, developers must show that the project is in a qualified incentive area, that without the incentive award the redevelopment project is not economically feasible, and that a project financing gap exists. There are additional requirements based on the nature and overall scope of the project.
No slowing down: Growth of e-commerce, last mile delivery and the densest state in America
The New Jersey industrial market has continued on its historic pace with vacancy rates dropping below 3 percent across the state. This has been driven by the unprecedented demand from online retailers and e-commerce-driven businesses desperate for warehousing and “last mile” distribution. E-commerce had already been on a rapid ascent for years with its share of the total retail market more than quadrupling since 2010. With the pandemic shuttering most brick-and-mortar locations for the better portion of 2020, e-commerce had taken on another level of growth. According to the U.S. Department of Commerce, sales increased 31.73 percent year over year, the fastest growth rate in 10 years, nearly doubling the second-highest growth rate of 17.81 percent in 2011.
