Technical changes to the 10-year-old Site Remediation Reform Act incorporate many lessons learned since the law was originally enacted, industry insiders said last week, as a bill that would update the program now awaits a decision by Gov. Phil Murphy.
Amid a strong economy and surging demand for consumer products, industrial remains one of the hottest segments in the commercial real estate industry. The strong demand for space is pushing industrial developers to innovate, leading to multistory distribution centers, on-demand space, robotics and online freight brokerage services
Legislation was enacted last November that requires NJ Transit to establish an office of real estate economic development and transit-oriented development to assess all its properties and annually recommend how best to increase NJT’s non-fare revenues. The goal is to enable NJT to have more funds to invest in its operations, maintenance and capital projects in order to improve performance for bus, rail and light rail passengers.
Two of the state’s most ambitious redevelopment and adaptive reuse projects were among the top honorees Thursday at NAIOP New Jersey’s annual gala, where a crowd of hundreds celebrated the commercial real estate industry and some of its leading figures.
With the state’s two main incentive programs set to expire on June 30, a high-ranking state lawmaker called on Gov. Phil Murphy to consider extending the deadline and allow policymakers to revamp the tax credit offerings without interruption.
April 22 is Earth Day, always a great time to reflect on what we as citizens can do to make the planet a little greener: reducing waste, conserving energy, reusing or donating products and recycling.
Commercial real estate developers and their professionals are a tough breed of entrepreneurs who thrive on thinking outside the box. My recent observation of presentations to the judges for NAIOP’s Deal of the Year awards (to be announced at the May 16 Gala), confirmed the latent creativity and tireless work ethic in this business — a business that is, in reality, all about hospitality and human resources as developers and brokers focus on creating amenity-rich spaces to compete for tenants and the modern workforce.
NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.
State Senate President Steve Sweeney last week came to the defense of New Jersey’s use of tax incentives — a recent target of Gov. Phil Murphy’s administration — while pledging to find a solution to extend and update the programs by the time they sunset on June 30.
Vision Real Estate Partners recently welcomed a group of young commercial real estate leaders to its new 20,000-square-foot amenity center at Warren Corporate Center in Warren, where NAIOP New Jersey held its latest “Evening with a Legend” dinner event.