Given that many of us spend more waking hours at our offices than we do at our homes, we looked forward to Barbara Fox’s in-depth story of a new building faced with two daunting tasks: First, to be on the cutting edge of environmentally friendly office design; and second, to accommodate a group of Princeton University administrators who literally were being asked to leave the ivy-covered halls of academe and move into new quarters in the corporate world next door.
Turn to page 10 for that story and to page 11 for listings of several hundred commercial real estate spaces currently for rent or sale.
So how is that real estate market doing? We read with interest an October 19 release from Cushman & Wakefield, which sponsored a panel of experts to address that question. James Hughes, dean of the Bloustein School of Planning and Public Policy at Rutgers, commented that “the free-fall of housing starts has been arrested, and there has been an uptick in both housing starts and home sales. We’re still in a hole, but those are a couple of ‘green shoots’ that we’ve seen.”
Ken McCarthy, director of research at Cushman, noted that, “while we are seeing a slow grind lower, the New Jersey commercial market is comparatively stable. I believe we will see more companies taking advantage of lower rents to lock in long-term deals, which will help the recovery.”
Correction: In the October 14 article on collaborative law, the E-mail contact for attorney Risa Kleiner was misprinted. The correct E-mail address is email@example.com.