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NEWS


SHAQ TOWER Marks a Milestone in Downtown Newark

NBA Hall of Famer Shaquille O’Neal visits former home to watch workers finish top floor of his high-rise apartment and retail building on Rector Street
“In 1992, me and my mother were visiting relatives, and my mother says to me, ‘I remember when the city used to be beautiful, somebody needs to come by and invest in the city and make it beautiful again.’ Then, she gave me that big elbow to the chest like I’m that somebody ,” said Newark native and NBA Hall of Famer Shaquille O’Neal.

O’Neal is making good on that nudge. He returned home to celebrate the completion of the top floor of his 20-some-story, 168-market-rate apartment and retail building on Rector Street.

The governor thanked O’Neal for never forgetting where he came from, and for helping Newark reach its potential. “This city is on the rise. Let there be no doubt about it,” said Murphy.

Newark Mayor Ras Baraka says it takes partners.

With the building, O’Neal and the city launched Project Newark, modeled after Project IMPACT. “That program is to give a helping hand to women, minorities, and veterans looking to get a career in the construction trade,” said Bill O’Dea, Hudson County Freeholder and founder of Project IMPACT.


News Posted Tue, Apr 17th, 2018 By njspotlight.com

Nor'easter to become bomb cyclone: Coastal havoc on tap

An already potent storm will track off the Atlantic coast and become a bomb cyclone that is likely to cause high winds, coastal flooding and heavy wet snow in the northeastern United States centered on Friday.
Part of the same storm already caused significant flooding and produced severe thunderstorms over the South Central states and will bring a change to heavy wet snow and strong winds to the lower Great Lakes region on Thursday night.


News Posted Thu, Mar 1st, 2018 By Alex Sosnowski - AccuWeather

Market Commentary

February 19, 2018

The Markets

As New York Fashion Week ended, inflation strutted its stuff. 

Ever since the Federal Reserve began raising the Fed funds rate in 2015, analysts have been anticipating higher inflation. The fact that price increases remained relatively small was a perplexing mystery. Then, last week, inflation increased faster than expected.

The Bureau of Labor Statistics reported the Consumer Price Index (CPI), one measure of inflation, rose 0.5 percent in January. As you might expect, the cost of some items rose faster than others. For example, energy costs rose by 3.0 percent, while the cost of food was up 0.2 percent. In total, during the last 12 months, the all-items index rose 2.1 percent. When food and energy are excluded, the increase was 1.8 percent.

Barron’s reported, “Leaving aside the month-to-month squiggles, the real story is that inflation is closing in on the Fed’s 2 percent target…And even if January’s rise in the CPI was overstated, a real cyclical uptrend is under way…Deflation in the prices of consumer goods we like to buy is ending; the rate of increase in the cost of things we have to buy either is rising, as for food and energy, or remains high, as for services or rent.”

Higher prices are one side of the inflation coin; the other side is higher interest rates. Inflation is one of the data points the Federal Reserve considers when determining how well the economy is performing. Rising inflation signals a robust economy. That may encourage the Fed to raise rates more aggressively during 2018 to prevent the economy from overheating. The possibility of more concerted Fed tightening helped bump U.S. treasury rates higher last week.

Higher interest rates could become a boon for income-oriented investors. For years, persistently low rates have caused some investors to accept higher risk than they might have otherwise. As interest rates move higher, there may be opportunities to reduce portfolio risk and still generate attractive levels of income.

Despite inflation-inspired volatility mid-week, stock markets around the world moved higher. In the United States, major indices once again moved into positive territory for 2018.


News Posted Wed, Feb 21st, 2018 By LPL Financial, Michael Maglio

Revenue, Retention, Reputation: Why the Traditional Landlord Approach is Changing

Office space

Historically the primary focus of the vast majority of office landlords was to secure enough tenants to fill their buildings as quickly as possible. Their modus operandi was simple: persuade an occupier to sign as long a lease as possible, with a minimum rent-free period and on a maximum pounds per square foot rent, in the quickest way possible. Once the tenant signed on the dotted line the landlord could essentially not worry about that tenant/building until a lease event loomed large on the horizon.


Even a couple of years ago this might have been an acceptable way of operating, but today it’s not enough. Having a good quality, well located building might get potential occupiers around your space for that all important first viewing, but getting them to commit to a lease is much more complicated. 


News Posted Fri, Feb 2nd, 2018 By CHARLIE WADE

JERSEY SPIRITS DISTILLING CO.

Jersey Spirits Fairfield NJ

JERSEY SPIRITS DISTILLING CO.
1275 Bloomfield Ave., Building 7, Unit 40B, Fairfield
973.227.5333
jerseyspirits.com


News Posted Tue, Jan 30th, 2018 By BY JENN HALL

10TIPS FOR REDEVELOPMENT SUCCESS

Office Building

1
BE POSITIVE
...in your approach and language so you
and your team are viewed as winners.


2
BE ATTENTIVE
...and spend more time listening than talking.

3
DON’T ASSUME
...anything. Do your homework, on the street
and in the community.


4
EXPECT ANY AND ALL
COMPLICATIONS.
Murphy, as in Murphy’s Law
is an implied partner in all development deals.


5
ASK YOURSELF:
“WHAT DON’T I SEE?”
...for that’s what will cost you money.

6
RESPECT
...the emotions and psychology of community
opposition without getting emotional yourself.


7
BE GENEROUS
...and leave something on the table for
the residents.


8
BE HUMBLE.
Even if (especially if!) you are a master of the
universe, community residents will eat you and
your project up on general principle.


9
KNOW YOUR OUTCOME
...and exactly what you want to accomplish.


10
BE MINDFUL
...that you are working in someone’s city and
community and show as much respect for their
home as you’d want them to show in yours


News Posted Mon, Jan 29th, 2018 By Grid Real Estate
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