“New Jersey's shining star has been the warehouse and distribution sector" according to Michael G. McGuinness, CEO of NAIOP New Jersey, which represents developers, owners, asset managers, and investors of commercial, industrial and mixed-use properties. The association has 830 members in New Jersey and over 19,000 members throughout North America. McGuinness believes that "the pandemic-driven...
Demands of e-commerce put a premium on warehouse and distribution facilities with last-mile delivery capabilities. “ Northern New Jersey’s proximity to New York City and central location between Boston and Washington, DC. put it at the center of a major transportation corridor. . . .The amount of goods passing through the Port of New York and New Jersey – the busiest container port on the East Coast...
A new Federal program encourages taxpayer investment in Opportunity Zones (low-income economically depressed areas) in exchange for tax breaks. In order to invest, taxpayers must utilize a qualifying intermediary (a Qualified Opportunity Fund) which keeps at least 90 percent of its assets in qualified Opportunity Zone property, which can be business property, stocks or partnerships. Incentives include tax...
Greenbaum, Rowe, Smith & Davis LLP has added to the leadership of its commercial real estate law practice, naming Matthew J. Schiller vice-chair of the department. The Woodbridge-based firm this week announced the new post for Schiller, effective Aug. 1. He joins Thomas J. Denitzio Jr. and Jack Fersko, the department’s co-chairs, in the leadership of the influential commercial real estate law...