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NAIOP New Jersey Speakers Optimistic That CRE Business Will Remain Strong in 2018

“We are cautiously optimistic that market fundamentals will remain strong, that industrial will remain hot, at least till the end of the year,” says Michael McGuinness, CEO of the NAIOP New Jersey chapter.

By Steve Lubetkin | Updated on January 23, 2018

NAIOP-NJ keynote speaker Spencer Levey, Americas Head of Research/Senior Economic Advisor, CBRE, left, chats with GlobeSt.com New Jersey editor Steve Lubetkin NAIOP NJ keynote speaker Spencer Levy, Americas Head of Research/Senior Economic Advisor, CBRE, left, chats with GlobeSt.com New Jersey editor Steve Lubetkin

SHORT HILLS, NJ—The commercial real estate market will benefit from the business-friendly provisions of the just-enacted tax reform bill, and markets that are attracting jobs are likely to be the best-performers for all sectors of CRE in the remainder of the year, according to presenters at the NAIOP New Jersey Commercial Real Estate Outlook held at the Short Hills Hilton Monday evening.

“Good old-fashioned supply and demand still matters, but it’s not the most important thing,” says Spencer Levy, Americas head of research and senior economic advisor for CBRE, the keynote speaker at the program. “The most important thing is the scarcity of talent, meaning that if you’re going to grow your business, you have to go to places that can grow your top line.” That typically means areas that have universities generating a talent pool and a live-work-play environment that’s able to retain those graduates, he says.

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