Perspectives

For many years, the travel and tourism industry in New Jersey has been taken for granted and not recognized as a source of great economic strength with a tremendous opportunity for job growth, and tax revenue from new money sources. In these challenging economic times, government leaders should work diligently with the state’s Destination Marketing Organizations (DMO’s) to implement an investment strategy in promoting New Jersey that will benefit all of its citizenry.

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Having been in the real estate business for four decades, I have witnessed a great deal of consolidation amongst firms of all sizes. Today, we appear to be on the cusp of one of the most active periods of consolidation that the real estate industry has perhaps ever experienced. The news and rumor mills seem to be gaining traction on a daily basis, and the forces that are shaping these deals do not appear to be disappearing any time soon. Particularly in a period that is seeing the stock prices of the publicly-held commercial real estate brokerage firms suffer and overall revenues for most firms expected to weaken in this slow growth environment, it is safe to say that the landscape is bound to change rather dramatically.

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