12C — January 31 - February 13, 2020 — 2020 Forecast — M id A tlantic Real Estate Journal
www.marej.com
P roperty M anagement
By Jonathan Glick, Sheldon Gross Realtors Continueddemand&growthin2020?Lookinggoodforwhse.; offices andmedical spaces; property sales and leasing S industrial real estate values. • Office
that size enjoyed explosive sales … but less than stel- lar financial strength. These companies can be categorized in the “e-commerce” industry, and these statistics have given property owners rea- son for concern. In the event that a tenant experiences a business downturn, secur- ing a lease becomes more problematic. Overall, unless there is an unforeseen, negative change in the economic or geopo- litical arena, we project 2020 as another banner year for
rent. Replacement costs are less than usual, leading own- ers and investors to reposi- tion these acquisitions with that creative new office de- signs very much in demand by today’s tenants. A success- ful office landlord now oper- ates more like a “hotel with concierge service,” offering tenants nothing but the best. • Medical Office Space Within this category, we find individual practitioners, medical groups, specialized services (surgery centers) and emergency centers (re- tail). Although there are transactions taking place, the turnaround isn’t of the same frequency or eagerness as pre-Affordable Care Act, and 2020 will likely con- tinue this trend. There are many dynamics that come into play when negotiating a transaction with members of this group. We believe that, aside from the most important dynamic – which is location – it’s the willing- ness of an owner to devote the time, energy, and money to secure these clients and, in return, the outcome can be a long-term tenant with better- than-average credit. We Strongly believe 2020 will continue the positive momentum of 2019 and look forward to servicing our cli- ents to get their best possible outcome. Jonathan Glick is ex- ecutive vice president at Sheldon Gross Realty, Inc. continued from page 4C NYC LL9 7 and Philly Energy . . . we migrate to a green energy economy, we need to consider all aspects of our energy use and the impacts on the user of real estate properties. Dailey Tipton is the vice president of sales and mar- keting for Evolution Ener- gy Partners, a full-service Energy Management, En- gineering and Consulting firm offering Best in Class Sustainability, Energy Ef- ficiency, Procurement, and Analytical solutions. Sources: https://www.afgo.com/blog/ local-law-97-nyc https://www.eia.gov/ https://www.duanemorris.com/ alerts/cutting_carbon_saving_dol- lars_philadelphia_adopts_build- ing_energy_efficiency_tune- up_1219.html
heldon Gross Realty has represented commercial business and property owners for the past 70 years , and we ’ r e c on- fident 2020 wi l l c a r r y forward the positive mo- mentum of 2019. • Industrial / Warehouse & Manufacturing Leading the way for all real estate sectors is industrial Jonathan Glick
property to purchase, and the unprecedented demand will continue. Leasing, on the other hand, appears to be bifurcated. Lease demand for state-of-the-art / best-in- class distribution facilities larger than 100,000 s/f and along major trucking routes is strong…but those without these strong points won’t fare as well. During 2019, buildings be- tween 5,000 and 100,000 s/f in size took up to 12months to lease, and companies whose operations where in space of
With the economy hold- ing strong, company owners are taking advantage of the low demand for office space. Low mortgage rates and an abundance of office proper- ties available for sale or lease have led to a renewed inter- est from investors looking to purchase office properties. It is a buyers’ market, which means that property owners or investors have many prop- erties to choose from and in return, can pay themselves
Start 2020 By Finding the Perfect Location For Your Business
BRIDGEWATER – 10 ACRE SITE
CLARK – OFFICE SPACE SUBLEASE THROUGH 05/31/2024 11,371 +/- Square Feet – Can be divided Excellent location – Right off the Garden State Parkway
FOR LEASE
+/- 130,000 Sq. Ft. Outside Storage Specialized Warehouse Buildings - Rail possible
WALL – FOR SALE 24,000+/- SQ. FT. OFFICE BUILDING Investment opportunity. Highway visibility. Great location at the corner of Route 34 and Belmar Blvd.
CRANBURY – FOR SALE OR LEASE 12,748+/- SQ. FT. OFFICE BUILDNIG Corporate park setting. Accessible from Exit 8A of the NJ Turnpike and Route 130.
The information contained herein has been obtained from sources considered reliable, but no guarantee of its accuracy is made by this company. Subject to errors, omissions or withdrawal without prior notice.
SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 www.sheldongrossrealty.com
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