AT A GLANCE
90 Woodbridge Center Drive
Woodbridge, NJ 07095
Year founded: 1919
Number of attorneys: approximately 100
Number of attorneys involved in commercial real estate in New Jersey: 24
Areas of expertise in real estate: Acquisitions and Sale of Real Property, Redevelopment, Real Estate Financing, Leasing, Environmental Compliance, Brownfields Development, Land Use Approvals and Litigation, Construction, Solar Energy
OUR ADVANTAGE
As a full-service law firm for national corporations, regional developers and investors handling development, redevelopment, construction, borrowing, leasing and management of large multifaceted projects, we integrate our redevelopment, land use, transactional and environmental experience to provide cost-effective services. We are tuned in to the economics of every project and clients’ business goals as well as the legislative and political landscape impacting the real estate community. Clients benefit from our track record of success working with governmental and regulatory agencies to obtain the incentives necessary to complete complex transactions and create beneficial public-private partnerships.
ON THE HORIZON
After a tumultuous 2022, we foresee an increase in activity in the commercial real estate market for 2023 as interest rates stabilize and recession fears moderate. We anticipate increased transactional volume over the upcoming year as a result of lenders returning to the market and increasing alignment between buyers and sellers on property valuations. Life sciences, industrial and multifamily sectors are anticipated to remain strong and we believe existing land scarcity will continue to drive flex projects, adaptive reuse and redevelopment throughout New Jersey. At Wilentz, we anticipate our growth will outpace the market due to our unwavering commitment to our clients and our long track record of success shepherding complicated real estate transactions across the finish line.
PROJECT SPOTLIGHT
Wilentz represents a national real estate developer in connection with a redevelopment project in Sayreville, New Jersey, involving land use approvals, a redevelopment agreement and a potential financial tax abatement agreement for the phased construction of three warehouse buildings totaling in excess of 1 million square feet. We worked with the applicant’s professional team in obtaining required multiple agency approvals, including approvals from Middlesex County and NJDEP. We navigated jurisdictional issues between adjacent municipalities tied to traffic and sewer capacity and various political issues including union and project labor. The land was a former chemical plant and the seller’s funds are being used to establish an environmental trust for future environmental remediation. This project is a prime example of how our multidisciplinary approach to problem solving, here at Wilentz, facilitates successful commercial real estate transactions.
