Office-to-residential conversions are becoming increasingly common in densely populated cities across America.
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.
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?
Industrial rental rates have skyrocketed in urban areas due to the boom of e-commerce. The demand for third-party logistics, also known as 3PLs have increased substantially. This has driven up rental rates in the industrial market. The industrial market in New Jersey alone has increased 11% year over year. The question of sustainability of rental increases emerges.