NEW BRUNSWICK, NJ-The Great Recession may be over, but the recovery has been slow, leaving commercial real estate vacancies high and jobs scarce. It is a time of introspection, when existing buildings and the market require careful analysis. To that end, NAIOP New Jersey held a program entitled “New Life for Distressed Properties: How to Repurpose Your Assets to Meet Emerging Market Demand and Access new Tools to Help Close the Deal” on Friday here.

The keynote speaker was Linda Kellner, director of the Christie Administration’s new Business Action Center, a one-stop shop for business retention and attraction, dedicated to assisting new and existing businesses in navigating the regulatory landscape in New Jersey. Its services include direction and support on everything from where to locate or expand, to licensing, business permits and certification processes.

A panel of industry experts then discussed the repurposing of assets to meet emerging markets--medical, education and data centers, to name a few--where prospective tenants are and what they need; new opportunities; financial strategies for distressed properties; how owners and developers are retrofitting industrial space and accommodating new demands; and the newest programs, tools and incentives available to help.