The port of Newark, New Jersey remains the largest container port on the East coast. The port supports over 400,000 jobs and has generated almost $8.5 billion in local, state, and federal tax revenue over the past decade. With import and export routes ranging from Asia, Europe, and Latin America, it has facilitated over 85 million tons of cargo worth more than $211 billion.
As we get further away from the height of the COVID lockdown and the threat of recession looms, more employers are leaning on their employees to return to the office. Not all office properties are created equal; some will fare better than others. What types of office properties in New Jersey are going to be best positioned for an office comeback?
For the experienced investor, a checklist and due diligence results in confidence in the process. For a novice investor, ignoring some of these steps can result in a failed investment. While this is by no means an exhaustive list, it’s a starting point highlighting some considerations before purchasing land.
Online retail sales surged over 40% in 2020 fueled by the Coronavirus pandemic. With overall easing of pandemic rules and society getting back to school, work, and leisure activities we …
Formula 1 has turned the eyes of the world onto growing American cities. With eyes comes tourism, and with tourism, comes infrastructure, jobs, and growth. F1 has smartly partnered with American cities destined for growth, and tech companies have followed suit.
The parallels between the last real estate run and this are hard to ignore; the record prices, the bidding wars, warehouses being leased before they’re built, the off-market transactions that …
The timing for this burgeoning industry is not ideal; already low vacancy rates in strategically desirable industrial areas coupled with the continued growth of e-commerce has put pressure on cannabis operators to pony up higher than market rents, driving up square footage costs seemingly by the week. The need to secure property in order to be licensed to operate has thus far not dissuaded those willing to take on substantial financial risk in order to get a piece of this multi-billion dollar (and growing) industry.
In 2019, logistics spending accelerated with an 11.4% increase parallel to the e-commerce growth within the United States. In the past decade we have seen industrial rents hit an all-time high, but the demand for more space is growing. The hiccups this nation has faced in its international supply chain logistics validate the necessity for expansion in our nation’s infrastructure.
In the world of commercial real estate, often it is difficult to get the experts to unilaterally agree on anything. In 2020, everyone has agreed we are in uncertain times …
The industrial market will remain strong, as COVID-19 has taught us that e-commerce remains vital, especially in a pandemic.
Brian DiPinto – Exit 8A –As we get further into 2020 the outlook for the New York and New Jersey industrial markets continues to look strong. In the 8A market …
Scott Savastano – Capital Markets – The global supply chain was rocked in January when China disclosed the Coronavirus Pandemic to the world. In February, we saw the first effects of …
Christian Benedetto – Office – As the 1st Quarter of 2020 ends with the Stock Markets in a tailspin, the Coronavirus threatens to further shut down the global economy. 16 Million people …
Karine Blanc – Multifamily – “With interest rates at historical lows, multifamily will continue to trade aggressively in 2020. The low cost of borrowing has allowed new investors easy entry to …
Overall, the commercial real estate market did well in 2019 and depending on what market you were in, it did very well.
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