New Jersey commercial real estate developers make their move: The week in review
May 3, 2013
Here are the stories you may have missed this week:
NJ.com: Commercial real estate is a barometer of New Jersey’s economic recovery
Tom De Poto at The Star-Ledger advises economists to watch the behavior patterns of the state’s commercial real estate market to see how the local economy is faring. When unemployment is high, there are larger vacancy rates in office and industrial buildings. The job market won’t really return until the bulk of office buildings are 90 percent or more occupied. To see how other property sectors are faring, head over to NJ.com.
Lehigh Valley Business: Commercial real estate sees Jersey invasion
Just because New Jersey’s real estate market is a bit sluggish doesn’t mean that New Jersey-based developers are resting. They’re just turning their sights to neighboring projects in the Lehigh Valley and leaving New Jersey for Pennsylvania. Get the full story on this trend in Lehigh Valley Business.
The New York Times: A NORC, up close and personal
New York City’s Fort Hamilton neighborhood of Brooklyn has retained its residents for so long that it’s turned into a naturally occurring retirement community (NORC). About a third of the residents are over 55 and that percentage is quickly growing. Click over to The New York Times to learn about the history of Fort Hamilton and where it’s headed in the future.
Reuters: RPT-Fitch Index: Over $14B in U.S. CMBS loans yet to mature in 2013
According to the most recent quarterly index from Fitch Ratings, $14.4 billion in CMBS loans are set to mature this year. However, due to low interest rates, Fitch predicts that most loans will pay off or continue to pay off near their maturity dates. Jump over to Reuters to read more.
Author: Raymond T. Cirz