POWERPLAY | JANUARY/FEBRUARY 2010
The Smart Growth Economic Development Coalition is dedicated to distinguishing New Jersey from its competitor states.
In September 2007, a prescient New Jersey lawyer decided it was time to unify the voices of various real estate and trade group interests into an organization called the Smart Growth Economic Development Coalition.His timing couldn’t have been more serendipitous.
ECONOMIC DEVELOPMENT FORUM | JANUARY/FEBRUARY 2010
TODs pump lifeblood back into New Jersey’s downtowns.
Urban redevelopers need all the tools they can get, especially in the current economy, so it’s good fortune that New Jersey is leading the way in what is fast becoming the age of transit oriented development, or TOD by designating transit hubs—stations and terminals around which to build residential and commercial spaces.
ENERGY ALTERNATIVE | JANUARY/FEBRUARY 2010
Nuclear energy now fills half the state’s energy needs, but its pros and cons are still being debated.
Nuclear energy suppliers are riding a wave of success in New Jersey with the relicensing last spring of Oyster Creek, the oldest nuclear power plant in the United States. Oyster Creek, owned by Exelon, along with the three reactors operated at the southern end of the state by PSE&G, account for 50 percent of New Jersey’s energy supply.
BUCKING THE TREND | JANUARY/FEBRUARY 2010
For Alfred Sanzari Enterprises, reinvesting during a down market ensures payoffs in
the upswing.
Property owners hate to spend money in a down market. But for David Sanzari, president and CEO of Alfred Sanzari Enterprises in Hackensack, even though spending money when you aren’t making any seems counterintuitive, reinvesting is the name of the game in a bear commercial real estate market.
PRO FORMA | JANUARY/FEBRUARY 2010
LSRP legislation’s impact on lending has yet to be seen—and that’s all the more reason for bankers to understand it.
New Jersey enacted landmark legislation concerning environmental investigations and cleanups in May 2009 with the Site Remediation Reform Act (SRRA), including its new Licensed Site Remediation Professional (LSRP) program.
FOCUS | JANUARY/FEBRUARY 2010
A former mall retailer embraces e-commerce and succeeds beyond his bricks-and-mortar dreams.
Early in 2009, an anonymous blogger lamented a recent shopping experience at Wayne Towne Center, a mini-mall in Wayne. “It was creepy,” the blogger wrote on a community discussion board. “No one was there.”
TEAMWORK | JANUARY/FEBRUARY 2010
A Parsippany office retrofit proves collaboration is key to achieving LEED certification.
It goes without saying that the LEED rating system has helped transform the way we build and design. Since its inception in 1998, the U.S. Green Building Council’s devotion to LEED has certainly provided building and design professionals with a comprehensive standard for choosing the greenest techniques and materials.
FOCUS | JANUARY/FEBRUARY 2010
When it comes to attracting investors to the state, New Jersey has a few aces in the hole—but not quite a royal flush.
Economic development officials all trot out the same show ponies when pitching their locality. Seventy percent of the U.S. population lives within 500 miles of us (or was that 50 percent within 700 miles?); we have more college graduates than you can shake a stick at, if that’s your idea of a good time; and the quality of life here is amazing. Just ask anyone, anywhere.
FOCUS | JANUARY/FEBRUARY 2010
Medical real estate is better off than other sectors, but economic, healthcare, and zoning issues make deals tricky.
While the economic downturn has created vacancies in the office market, it has also opened supplies of potential medical space. However, uncertainty about healthcare has caused many doctors to exercise caution.
PRO FORMA | JANUARY/FEBRUARY 2010
Now that the decade’s ended with a whimper, the recovery of
1031 exchange and net-lease businesses is up in the air.
The Great Recession floored the net-lease market and the overlapping but distinct market for 1031 exchanges, just as it did for the rest of commercial real estate. But as 2010 begins, there are glimmers of hope for the two markets in New Jersey and nationwide—just as there are throughout the rest of real estate.
NEXT? | JANUARY/FEBRUARY 2010
With an EDA grant, an international cardiac technology company pumps new life into New Jersey’s economy.
With the announcement on October 14, 2009 of the opening of new U.S. headquarters for Maquet Cardiovascular LLC, a principal in on-and-off-pump cardiac surgery technologies and market leader in endoscopic vessel systems, New Jersey is seeing greater job opportunities, the introduction of innovative technology, and collaboration between private companies and the Economic Development Authority (EDA).
CONCEPT | JANUARY/FEBRUARY 2010
DNA/genomic servicer GENEWIZ is a “wiz” at business, too.
To stay in business during a risky economic climate is one thing. But to hire as many as 20 new employees in one month, open new international branches, and celebrate a booming 10th anniversary is a different game altogether.
