While the marijuana laws vary state to state in the United States, there is a need for commercial real estate within the legal marijuana industry. From the need for warehousing the final products to the manufacturing of the edibles (which a growing number of users prefer).
The NJ industrial real estate market has now been in a bull market since 2013. Prices have seen levels that were thought to be untouchable, as short as five years ago. Inventories are still relatively low and the question on everyone’s mind is, “Where do we go from here?”
The concept of finding office space for rent in New Jersey seems simple, find a space and rent it. Oh but there’s more to it! The rental market is tricky, …
June is national PTSD (post-traumatic stress disorder) Awareness month and June 27th is National PTSD Awareness Day. While PTSD does not in any way effect only veterans, it does affect …
Although the ecommerce boom might seem like the savior of not only the real estate business, but also the many ancillary businesses that support it, the high demand for more …
The internet makes finding available office space listings easy, however, when it comes to finding the right property, things can get complicated. It is not possible to list all the …
In commercial real estate, we have all observed how changing demographics have forced companies to change their goals and aspirations.
The good earth has always been associated with wealth, and tales are legion of ancestral land left behind for generations. Of all assets humankind has known, land has proven the most enduring in value. Wars have been waged over land and its resources from time immemorial.
The trajectory of the industrial real estate market in New Jersey and in most port centric markets throughout the country, has continued to push to elevated heights. The path of least resistance is “up” both in terms of price and demand.
A little over a decade ago, brick and mortar retail space was the hottest market, with investors and users alike scratching and clawing their way into bidding wars for the elusive corner locations or store fronts on major highways.
New Jersey is a very difficult market in which to be an effective industrial real estate broker. Not only is there tremendous competition from other brokers, some landlords are pushing to do deals directly with users, and a lack of inventory compounds all the other issues we come across daily.
Historically speaking the summer months tend to slow down in the commercial real estate world as schools are closed, children are home and vacations become the priority.
As the demand for properties that permit outdoor storage continues to grow, the number of these sites in northern and central New Jersey continues to decline. We are now seeing prices at $12,000/AC/mo to as much as $15,000/AC/mo in some places.
We live in a connected world where customers are empowered more than ever with so many choices and so much information at their fingertips. In this rapidly evolving digital landscape, commercial real estate professionals need to be creative about how to engage and connect with their customers through a mix of technology and tried and true relationship building skills.
I met recently with Bob Lieb and Michael Seeve, managing partners of Mountain Development Corp. in Woodland Park. Bob was one of the original founders of the Wolff Samson law firm and a few years ago, Michael was president of NAIOP. I have known both for 25 years and find their knowledge of New Jersey real estate to be extremely valuable. Given this fact, I did a Q&A session with both Bob and Michael, which I am summarizing below.