Experts say ‘stranded’ office, retail sites can thrive as new-look community hubs

Experts say the way to revive outdated, underutilized commercial properties in New Jersey is to make the sites an essential part of their communities. That can mean increasing the amount of public green space or adding mixed-use elements, among other options aimed at redeveloping so-called stranded assets.  

NKF: Pharma, health care, tech firms could drive post-COVID office demand in New Jersey

The office market may be facing a new normal, but tenants in the life sciences, health care and technology sectors are best-positioned to drive demand in the wake of COVID-19.

Audible unveils 80,000 sq. ft. ‘innovation cathedral’ at historic Newark church

Audible has completed its restoration of a historic church in downtown Newark, debuting a new 80,000-square-foot office and innovation space as part of its growing footprint in the city.

Can tech firms, startups fuel job growth and new office requirements in New Jersey?

In a market that has been hurt by densification and lackluster job growth, many of the state’s largest office leases in recent years have been tied to tenants looking to consolidate and upgrade their space. But technology and information firms have been a rare source of expansion in New Jersey, fueling new space needs that are about more than just a flight to quality.

Making sure the Garden State can grow its technology sector is a matter of creating the right environment and promoting what the state can offer in the way of labor, education and accessibility. Experts say it’s also up to landlords to ensure that they provide the space that tech users are looking for.

A growth area in the making?

We set out this month to look at the role of technology companies in New Jersey’s office market. The tech sector certainly isn’t the dominant industry in the state’s economy, but it has provided a rare source of job growth in the last few years that has resulted in new office requirements. We’ve seen companies such as Audible, iCIMS and Jet.com lease space in New Jersey thanks to both state incentives and the type of organic growth that landlords would love to see continue.