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Will Businesses Embrace New Jersey?

NEW BRUNSWICK, NJ-Although issues with the port and the Council on Affordable Housing still create chatter, there is an air of optimism now.

By Alyson Grala | Updated on October 06, 2010

NEW BRUNSWICK, NJ-This year’s RealShare New Jersey, held for the first time at the Hyatt here, also had a decidedly more upbeat tone than in previous years. With around 400 attendees, the panels covered everything from data centers to distressed assets.

Kicking things off was Jeff Milanaik, president of Heller Industrial Parks Inc., who engaged in a discussion with ALM-Real Estate Media Group vice president and group publisher Michael Desiato. The duo discussed some downsides, such as the Bayonne Bridge fiasco (namely, the fact that the bridge is not tall enough to accommodate larger container ships that will come through the port once upgrades to the Panama Canal are complete in 2014, or sooner), as well as concerns with the fee levied on developers by the Council on Affordable Housing. But, some positive indicators, said Milanaik, include “an uptick in container traffic,” at least for now, “and also an increase in manufacturing.” For its part, Heller is pushing solar initiatives at nearly all of its properties. And Milanaik mentioned this would be a major focus going forward.

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