Why Millennials Are Changing Their Preferences For Housing

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There have been endless articles written on how millennials are changing the demand for housing, but not enough articles have been written on why. Millennials showing a preference for apartments and urban areas has dramatically increased the demand for multi-family units, and developers are racing to meet the demand.

Opportunity Zones

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A newly created tax incentive program established by the Trump administration in Fall 2017 called The Tax Cuts and Jobs Act of 2017 (TCJA) offers substantial tax breaks to business and real estate investors who are willing to make long-term investments in low-income disadvantaged communities across the country referred to as Qualified Opportunity Zones (QOZ).

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Haefeli Urban Renewal

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Sale of 125,000 sq. ft. in Newark, NJ, from Haefeli Urban Renewal to an undisclosed buyer. Represented by Jason Crimmins, CCIM, SIOR, and Peter Murano, Jr., SIOR.

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The Gale Company

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Sale of 143,530 sq. ft. in Lyndhurst, NJ, from The Gale Company to Keystone Property Trust. Represented by Jason Crimmins, CCIM, SIOR, Peter Murano, Jr., SIOR and Ken Crimmins, CCIM, …

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JMFJ Realty to World Associates

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Sale of 23,000 sq. ft. in Springfield, NJ, from JMFJ Realty to World Associates, LLC. Represented by Jason Crimmins, CCIM, SIOR, and Peter Murano, Jr., SIOR.

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Keystone Operating Partnership

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Sale of 39,875 sq. ft. with 3.5 acres in Fairfield, NJ, from Keystone Operating Partnership to Cerco East, LLC. Represented by Kenneth F. Crimmins, CCIM, SIOR.

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Green Fund Realty Partnership’s

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The sale of Green Fund Realty Partnership’s 206,000 facility in Springfield, NJ, to Bristol Northern Industrial. Represented by Jason Crimmins, CCIM, SIOR, and Peter Murano, Jr., SIOR.