My original plan for this Earth Day was to report on New Jersey’s sustainability challenge and how commercial real estate is adapting to natural, governmental and market forces. Given the magnitude and velocity of the COVID-19 disruption that is hourly reshaping our economy, industry and very existence, that plan quickly evaporated. Instead, this piece discusses the general impact of COVID-19 on our economy, and how CRE developers, owners, asset managers and affiliated professionals are meeting these challenges, assisting in relief efforts and informing government at all levels on how best to navigate their strategic response.
Pennrose launches virtual tours at New Brunswick PAC apartments
Prospective renters can now remotely tour one of New Brunswick’s newest luxury apartment buildings, part of a landmark performing arts center project in the downtown.
Hammer: Eviction moratorium comes with ‘big fear’ for multifamily owners
Alan Hammer is not only a commercial real estate attorney with nearly 50 years of experience, but a self-described “hands-on” apartment operator in New Jersey and Pennsylvania. Simply put, he’s all too familiar with the dilemma that landlords in the region will face on the first of the month and beyond, with moratoriums on evictions during the coronavirus crisis.
NAIOP announces new date for CRE awards gala
NAIOP New Jersey has announced a new date for its iconic commercial real estate awards gala, as residents and businesses continue to weather the impact of the COVID-19 pandemic.
Prism uncovers critical safety gear at ex-Roche campus, donates to Hackensack UMC
Prism Capital Partners is doing its part to help the health care community in the fight against COVID-19, having donated a trove of critical safety gear found at its flagship ON3 campus.
Developers in Hoboken, Oceanport launch virtual tours amid COVID-19 crisis
With the coronavirus crisis still escalating, two prominent New Jersey developers are now among those to offer virtual tours of their newly opened residential properties.
Construction to carry on after being deemed essential, drawing praise from NJBA
Construction is set to continue in New Jersey after being deemed an essential business during the coronavirus crisis, providing a lift to developers even as they await additional guidance.
Brogan: Apartment industry bracing for impact of ‘stay at home’ order, economic uncertainty
With millions of New Jersey residents ordered to stay at home, apartment owners and managers are set to play a critical role in the effort to curb the spread of COVID-19. They’re also bracing for a major impact from a teetering economy and the prospect of some residents being unable to pay rent, which looms large against the backdrop of paying their own employees, mortgages and property taxes. That’s not to mention the need to respond to tenant emergencies and disruptions to the supply chain, which have impacted everything from cleaning supplies to appliances
EWMA announces antimicrobial, antiviral mitigation service to fight spread of COVID-19
An environmental remediation and consulting firm is gearing up to handle the need for antimicrobial and antiviral mitigation in the wake of the COVID-19 pandemic.
NJBA, NAIOP postpone events amid coronavirus concerns
The escalating coronavirus crisis rippled through New Jersey’s commercial real estate sector on Thursday, as two top trade associations were among those to postpone upcoming events.
