SHORT HILLS, NJ—The new year is likely to continue record-breaking trends seen in 2016, says market veteran José Cruz, senior managing director of Holliday Fenoglio Fowler, which provides capital markets transaction services to the commercial real estate industry. Cruz provided his insights for the coming year exclusively to GlobeSt.com.
Q: José, what sectors are getting most of your focus for 2017? Is there any major shift from 2016?
A: As we begin to focus on 2017, our investment outlook remains very similar to this past year: Significant activity in all four food groups with continued record pricing being achieved for the most special of assets. In the last twelve months, we had retail cap rates in the 4s for multiple assets both core and core plus. Industrial will continue to be a desired property type for the short term as leasing momentum continues to increase and the lack of supply available for purchase will hold prices high and cap rates low throughout the upcoming year. The institutional buyers are under-allocated in industrial product in the NJ market, which is one of the largest in the country.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
