Medical tenants have become increasingly critical to the retail sector, creating a new opportunity for landlords who have grappled with e-commerce and bankrupt retail chains. New Jersey is no exception, and the opportunity comes as urgent care centers, physical therapists and other businesses experience rapid growth spurred by major changes in the health care industry.
A recent ruling by the U.S. Supreme Court will likely raise the cost of some online sales and provide an infusion of revenue for New Jersey’s state coffers, but its impact on commercial real estate may be limited.
A plastics and packaging company has renewed its 83,000-square-foot lease in Wood-Ridge, in one of several deals announced last week by Team Resources Inc.
Global consulting and infrastructure firm AECOM has announced the hiring of a new vice president and managing principal in New Jersey.
Prism Capital Partners has launched nearly $10 million in roadway and utility upgrades at the former Hoffmann-LaRoche campus in Nutley and Clifton, as it prepares to welcome new tenants to the 116-acre redevelopment site.
Brokers with HFF have secured $10.2 million in financing for a developer to build a 925-unit self-storage facility on the border of Nutley and Clifton.
I am convinced more than ever that forward-thinking New Jersey suburbs are poised for a comeback. Many city residents, especially those in their 20s and 60s will seek alternate residences. Towns that have invested in their infrastructure and assets for the long term and are ready to accommodate this exodus of consumers and their preferences will be able to compete for this wealth of talent and the resources they bring to the community.
A team of Monmouth University students earned top honors recently at NAIOP New Jersey’s annual Intercollegiate Case Study Competition, offering a vision for redeveloping the former Hoffmann-LaRoche campus in Nutley and Clifton.