10A — January 2026 — 2026 Forecast — M id A tlantic Real Estate Journal
www.marej.com
2026 F orecast
By Robert Holland, The Kislak Company, Inc. Reliable Forecast: You must be present to win
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n today’s world, there are incredible demands on our time and atten-
and in-person visits that build trust and lead to solid relation- ships. This work ethic contin- ued to serve Kislak and our clients well in 2025. It was a strong year and among our best by every measure – including sales volume and the number of closed transactions. We closed 103 sales for $621 million and 37 leases with rents totaling $13 million, which represents a 22% increase over 2024. According to CoStar and their entry of 2025 multifam- ily sales in the Northern New Jersey MSA, Kislak was the #1 buyer broker and #3 seller bro- ker. Among the highlights are a $90,000,000 10-property Union County portfolio that was among the largest multifamily sales in New Jersey in 2025; the $20,000,000 exclusive sale of 70 Central Lofts, which represents the highest price per unit achieved for a 10-plus unit multifamily property in Jersey City since 2021; and the $22,150,000 exclusive sale of
The Parc at Summit – the larg- est multifamily sale in terms of price and price per unit in Union County since 2022 and the largest multifamily sale in Summit in at least 10 years. As a result of such significant deals, the Kislak team pro- duced impressive transaction statistics in 2025, including 3,500+ multifamily units sold, 500,000+ s/f of commercial properties sold and 130,000+ s/f of commercial space leased. Multifamily real estate main- tains its status as a highly de- sirable investment. Renting is appealing to people of all ages – from 20-somethings to empty nesters – resulting in strong occupancy and collections. Year after year, the reliable and comparatively low-risk returns of multifamily property draw and keep investors. Another important facet of Kislak is our commercial sales and leasing division. We are seeing evolving de- mands for office, warehouse
and retail space open up connections with a variety of companies and an increasing number of transactions. In addition to Kislak’s long- time comprehensive market coverage throughout the north- east, we are expanding our presence in Florida. Many of our northeastern multifamily clients own or want to own in Florida or are part-time resi- dents there, so this venture en- ables us to enhance our service and offerings. It is also important to note that our highly skilled ad- ministrative, marketing and research professionals provide detailed and timely data and communications needed for sound decision-making. We pride ourselves on serv- ing as our clients’ eyes and ears, and our salespeople are proactive experts. Regardless of conditions, Kislak is well-po- sitioned to consistently achieve the highest and best prices, and best terms, for our clients.
Thanks to Kislak’s exceptional service and our ability to close deals, we have gained the con- fidence of multiple generations of business families. We are optimistic the mar- ket improvement we saw in 2025 will continue, and we expect activity to be driven by fundamentals, rather than speculation. In this environ- ment, local market knowl- edge, thoughtful underwrit- ing and strategic advisory services are more valuable than ever. Our 2026 forecast is clear: Kislak – and our clients – will be present for many wins. Robert Holland joined Kislak in 1984 and became president in 2012. Consis - tently, among the lead- ing brokers of apartment buildings in central and eastern Pennsylvania, Hol - land is one of Kislak’s all- time leading salespeople with sales totaling more than $3 billion. MAREJ
tion. Amaz - ing advances in technology and commu- nications can help us mul- titask and work from almost any- where, while
Robert Holland
processing and producing enor- mous amounts of information. They can also create distrac- tions and distance, weakening relationships and diverting us from our goals. Early on, Kislak recognized that long- term success requires us to focus, follow through and de- liver. Whatever opportunities and challenges the new year brings, we predict the old cli- ché will remain true: You must be present to win. Since 1906, Kislak profes- sionals have been knocking on doors, making personal calls
New Supply Chain Partner Report Shows Positive Impact of NJ’s Warehouses and Distribution Centers
New Jersey office tax assessments impacted by declining market . . .
tives with operational reali- ties, but the outcome is vibrant communities that support families in need of quality, af - fordable housing. Austin Pittman is vice president and director of Development at Lawson, accountable for all new LI- HTC development. MAREJ “Previously available data showed the numerous ben- efits of the state’s logistics in - dustry,” said David Greek , chair of Circulate NJ . “That data, however, was years old and did not reflect the true nature of how large that im- pact is. This new report pro- vides a great picture of just how many New Jerseyans rely on the logistics industry for their livelihood. We thank NAIOP NJ, the Shipping As- sociation of New York and New Jersey, Rutgers and Anne Strauss-Wieder for bringing this valuable infor- mation to the public.” MAREJ the additional quantifica - tion of the ongoing economic value generated by these operations using the same economic impact model de- veloped for the 2025 Port Industry analysis.
in tax burdens that are either unsustainable, or unfairly high, or both. Thomas M. Olson is a partner at McKirdy, Riskin, Olson & DellaPelle, P.C. Matthew J. Erickson, Esq. is an attorney at McKirdy, Riskin, Olson & DellaPelle, P.C. MAREJ Looking ahead, WCRE an- ticipates measured momen- tum continuing into 2026, supported by improving capi- tal availability, stable labor markets, and a restrained development pipeline. While challenges remain in certain asset classes, the alignment of clearer pricing, steady tenant demand, and disciplined invest- ment strategies position the region’s commercial real estate markets for sustainable growth. WCRE’s Q4 2025 Market Report delivers critical in- sights into the trends shaping the commercial real estate landscape and serves as a strategic resource for owners, investors, and occupiers navi- gating a market defined by recalibration and opportunity. The full Q4 2025 market report by WCRE is available upon request. MAREJ
achieve a winning score, but to ensure financial sustainability. Remember, elections are long-term commitments from the owner and will shape a property’s financial perfor- mance, and operational and compliance requirements for years. It’s a balancing act to thoughtfully align QAP incen- The analysis used pub- lished reports, fieldwork, engineering information, and the extensive knowledge of the Advisory Committee to develop a consensus estima- tion of the number of workers in New Jersey’s warehouses and distribution centers. Once the number of workers in New Jersey’s warehouses and distribution centers was ascertained, CAIT undertook of Planning and Public Policy . “While warehous - es and distribution centers are visible throughout the state, the activities that occur within them – as well as the number of workers employed and the economic value they generate – are often less ap- parent. Not only does this re- port quantify those numbers, it also shows just how great that impact really is.”
durability, and resilience are increasingly driven by QAP incentives and have lasting implications for capital re- placement and asset longevity. Elections can’t be made in isolation; collaborate with those tasked with implementa- tion. The objective is not only to • More than $33.8 billion in federal, state, and local tax revenues, with local and state tax revenues of nearly $11.3 billion and federal tax rev- enues of almost $22.6 billion. “New Jersey may be one of the smallest states in the nation but it is a vital hub for the distribution of goods across the country,” said Anne Strauss-Wieder , se- nior Freight and Logistics Researcher at Rutgers CAIT and a Lecturer at the Ed- ward J. Bloustein School to the staggering job figures, the report also found that warehouses and distribution centers in New Jersey annu- ally support: • Over $112.8 billion in personal income. • More than $295.8 billion in business activity. continued from page 2A
continued from page 4A your tax assessments and your municipal ratios every year and file a tax appeal when you are unfairly assessed. By care- fully monitoring the situation, property owners and manag- ers can minimize the chances that their New Jersey property tax assessments don’t result Midlantic Dr. in Mount Laurel, representing one of the region’s largest office transactions in Q4 2025. • North Jersey: EQT Real Estate acquired the 1,013,206 s/f industrial facility at 2321 High Hill Road in Swedesboro for $26.05 million, highlight- ing sustained demand for large-scale logistics assets. • Philadelphia: FS In- vestments expanded its foot- print with a 117,000 s/f, 16-year office lease at 3025 JFK Blvd., reinforcing the continued flight-to-quality trend in Center City. • New York: Kirkland & Ellis signed a 29,233 s/f of- fice lease at Commerce One in Manhattan, underscoring NYC’s leadership in the na- tional office recovery. Outlook for 2026:
continued from page 8A WCRE Fourth Quarter 2025 Report . . .
continued from page 7A Checking the boxes; LIHTC applications from a developer . . .
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