A crowd of nearly 400 turned out Monday night as NAIOP New Jersey inducted three commercial real estate leaders into its hall of fame, while honoring a longtime state government leader and three key industry professionals.
The influx of “big data” can be overwhelming and complex — coming with privacy concerns and other challenges — but it provides a great opportunity to help developers and landlords improve operational efficiencies and attract and retain tenants.
Gov. Phil Murphy has signed into law a bill that requires NJ Transit to establish an office of transit-oriented development and conduct an annual inventory of its real estate holdings, potentially paving the way for new opportunities across the state.
Amenities, collaboration space and access to transportation will all remain important in the office sector, experts say, but those features must be increasingly focused on wellness, sustainability and energy savings. That’s not to mention diversity and the ability for employees to choose how they work.
Business as usual is just not possible anymore. New Jersey’s underperforming economy, bloated public sector spending and rising cost of living, along with Congress’s decision to reduce the state and local tax deduction, are forcing our collective hands to do better. There is no better place to start than at home in our local municipalities and school districts, where consolidations and sharing of services can produce both real financial savings and better outcomes. Simultaneously, state and county governments need to do likewise. Taxpaying businesses and residents deserve accountability, and this may require audits of how and where every dollar of taxpayer money is being spent.
The Department of Environmental Protection is taking a page out of the TurboTax playbook — at least when it comes to permitting for land use and other areas — with plans to roll out a new electronic submission system for more than 100 permit activities in its ongoing effort to streamline New Jersey’s regulatory structure.
With the incredible growth of this sector in recent years, could logistics help make New Jersey cliff-proof? I think so, but only if we take steps to address serious workforce challenges, especially those related to affordability and accessible transportation. With the increasing likelihood of a recession in 2020, we need to act now. The importance of the port region to New Jersey’s economy cannot be overstated, and continued investment is critical. We also need to solve the “last mile” conundrum that presents transportation and lifestyle challenges.
The Stro Cos. has made two recent additions to its team to bolster its efforts in acquisitions, leasing, management and other areas.
No one infrastructure project has the potential to cripple our economy, disrupt our lives, lower real estate values and drive employers to seek alternative locations than the Gateway Project to expand and repair the Hudson River rail tunnels and replace the Portal North Bridge. Why, then, haven’t our local, state and national leaders yet secured the funding, approvals and entitlements needed to get this project done, despite the wakeup call back in 2012 when Superstorm Sandy wreaked havoc on a single tunnel in an area responsible for 20 percent of the U.S. GDP?