While affordable housing policy (or lack thereof) has had a profound impact on multifamily development in New Jersey over the past 5 years, it is becoming increasingly unclear what impact this will have on development in the next 5 years.
AI (Artificial Intelligence) has the potential to transform the commercial real estate brokerage industry in numerous ways. Here are five ways AI may affect commercial real estate brokerage in the future.
The unforeseen collapse of California-based Silicon Valley Bank has not only largely impacted the global financial industry but has caused a rippling effect throughout the economy.
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.
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.
Industrial real estate, and more importantly, logistics real estate, serves as the conduit everyday consumers have become accustomed to receiving goods and services. Warehouses provide for product storage, truck terminals and distribution centers bring the product one step closer to the consumer while storage yards for trucks, trailers, and containers allow for the aggregation of equipment necessary to match the product to the consumer. The consumer, however, is the catalyst that dictates how each of these components thrives or declines, and ultimately interacts.
With more than 50,000 facilities and upwards of 2.3 billion square feet of self-storage in the United States, this segment of commercial real estate has steadily evolved over the last 60 years into big business. As the Covid pandemic enters its third year there has been an accelerated need for families to create space for both employees working from home, and/or a workplace for students while remote schooling.
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.