“This acquisition is a testament to the growing self-storage market in the metro New York area,” says Sonny Jumani, president and partner of Rochelle Park, NJ-based Tulfra Real Estate.
“Our expansion into Northern New Jersey is an important part of our overall acquisition strategy, which is focused on increasing our holdings in Tier I distribution markets," says Mark Crawford, vice president of acquisitions and dispositions for Duke.
“Growth and development bode well for existing apartment properties such as Forest Hill Terrace,” says Gebroe-Hammer Associates executive vice president David Jarvis.
“With a class A office vacancy rate around 3.5 percent, the creative office space that exists in Hoboken today is highly inefficient, while the balance of the office space on the market is more corporate,” says Transwestern's Matt McDonough.
The overhang of $1.4 trillion of student debt will keep millennials in apartments longer, says Jay Eisner of LEM Capital, which has a particular focus on value-add class B multifamily housing. Watch our exclusive video interview with Eisner.
“Internet shopping, the deepening of the Panama Canal and the raising of the Bayonne Bridge have created the need for more warehouses and logistics facilities,” says AESI's president, Mike Novak.
“No one is waiting for Washington to do anything remotely intelligent any more,” Katz says. "A small community foundation in this state has more discretion than a cabinet secretary.”