Glick: I’d have to say it is still Class A office space. Just driving down the road, you can spot that there are a lot of vacancies, and behind the scenes, the landlord is doing everything imaginable to hold on to the tenants they have. With so many landlords underwater on their mortgages, banks are not moving to take back properties, so the process can’t move along. When I was a kid in this business 25 years ago, vacant property would be taken back by the bank within a comparatively short time, and sold - for pennies on the dollar, but it was sold and then it could be re-leased.

GlobeSt.com: What about industrial property, which has been your personal specialty? Seeing any pick-up there?

Glick: Yes. At Exits 7A, 8A, on the New Jersey Turnpike, the big corporations have taken all the newer-generation buildings off the market. The landlords may not be being getting great rates per-square-foot, but they are definitely leasing them up. Sooner or later, that will trickle down to second and third-generation buildings.

GlobetSt. Com: Focusing on new laws and changes for a moment, what is coming up that commercial brokers need to be aware of?

Glick: The legal challenge to Gov. Chris Christie’s abolition of the COAH requirements on housing projects is the biggest thing at the forefront of most people’s minds. Another thing others might not be thinking about concerns the new laws allowing licensed environmental engineers to do the work on environmental impact statements for development projects. We will need to be careful of the possible loopholes: For example, the statements have to be reviewed by the Department of Environmental Protection, which can take up to two years to do it.

GlobetSt.Com: Could these be topics for upcoming classes at the CRENJ school?

Glick: I would think so. We all need to work together as best we can to analyze and stay up-to-date of the issues in a difficult environment like this.