A developer has secured $91 million in construction financing for 275 apartments in Parsippany, helping to kick off the transformation of a former suburban office park.
Murphy Schiller & Wilkes LLP
MSW represents a wide range of clients, including major national and international developers, national and local lending institutions, institutional investors, family offices, landlord and tenants and other owners and developers of real property. Our boutique nature and multidisciplinary model has allowed the firm to represent a diverse array of clientele, from the largest real estate development and private equity firms in the country to smaller family offices based in New Jersey.
Reverse appeals can lead to unexpected property tax liabilities for commercial property owners
As the real estate market remains strong, and property values continue to rise across many asset classes, commercial property owners need to be aware of the growing trend with municipalities aggressively seeking to substantially increase tax assessments for commercial properties by filing their own tax appeals.
Expect the unexpected: Addressing supply chain leasing concerns in 2022
As we say goodbye to 2021, New Jersey’s robust commercial real estate industry has a lot to look forward to in 2022. Whether it be the ever-increasing demand for new industrial space or the development of new and/or expanded tenant spaces as employees continue their return to the workplace, construction activity will likely continue to surge in 2022. Notwithstanding such, however, landlords and tenants must remain mindful that COVID-19 will continue to impact the commercial real estate industry next year and beyond.
It’s here: Preparing for the upcoming recreational cannabis haze and craze
It is anticipated that state regulators will unveil the application process at any time within the next several weeks in order to commence the processing and issuance of recreational cannabis licenses in New Jersey. Thus, there is considerable excitement amongst real estate operators and potential cannabis businesses for the inevitable rapid and (likely) significant growth of the cannabis industry in New Jersey in the coming months and years. Notwithstanding such, as cannabis businesses will be highly regulated at both the state and local level (and remain illegal under federal law), it is critical that property owners and business owners fully evaluate the many regulatory, zoning, operational, and financing challenges associated with utilizing properties for cannabis uses.