The Road to Recovery

Over the first two quarters of this year, the market has been in one of the worst recessions in history, forcing activity to fall across the board for all industry sectors, including New Jersey’s commercial real estate market.

However, the power of improvement is in the hands of the buyers and tenants now, which has created many opportunities in the commercial real estate market. As more and more players in the real estate market continue to realize and capitalize on these opportunities, the market continues to improve steadily across each of the three main sectors of the market, including industrial, office, and retail.

Market Fundamentals The industrial marketplace in northern New Jersey is a robust market in general, due to its centralized and convenient location within a 5 hour driving radius of about 40 percent of the country’s population. In addition, there has been a shift in the demand for industrial goods, following the US’ conversion from a manufacturing base to a service based industry, which demands warehousing that differentiates from long ago.