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2001 Could be a Year of Profit-Taking in NJ Real Estate

FAIRFIELD, NJ-The solid economy has sent prices sky-high, and if the year ahead turns out to be one of leveling growth or even a downturn, some of the players could move on, according to one report.

By Eric Peterson | Updated on February 25, 2001

FAIRFIELD, NJ-The Garden State’s commercial real estate market has potentially set itself up for some profit-harvesting, according to a report just issued by the New Jersey office of Grubb & Ellis based here. The recent economic expansion has made properties more valuable than ever, and some of those who bought low are expected to turn around and sell high.

In particular, “many investors with class A holdings have witnessed unprecedented levels of leasing activity in their buildings, making these properties ripe for disposition,” suggests Matthew Schnrr, senior vice president of the Investment Services Group for G&E. “Through portfolio dispositions, opportunity funds and institutional investors could realize healthy rates of return on their holdings.”

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