Mid Atlantic Real Estate Journal — Fall Preview — September 27 - October 10, 2013 — 9A


c onstruction M gMt . & c onsulting By Ronald C. Kerins, Jr, Greyhawk 2013 - 2014 commercial, industrial, and retail real estatemarket forecast


result, we have seen specialty contractors closing their doors leaving owners with incom- plete projects awaiting rescue. If the project is supported by bonding there is some hope that this rescue is assured. The private sector owners often find themselves at risk without the support of a surety. In recent years we asked each other how far into the fu- ture are we able to project, and the answer has been one quarter at a time, so to be look- ing two or three quarters out is an improvement and glimpse of

sion, which should translate into construction spending. A factor in this projected move to spend could be that, in gen- eral, U.S. businesspeople are simply tired of the downturn and feel that if construction costs remain depressed, the time is right to build. The healthcare sector has continued to sustain growth with many organizations mov- ing to developing acute care and express care facilities to lessen the burden placed on Emergency Rooms by non- critical cases.

Educational funding for New Jersey Colleges and Universi- ties tops the list of stimulus packages that have created opportunities for construction. This coupled with ROD grants for K-12 school projects keep the public market moving. Due to the longevity of the recent prolonged downturn in the economy, many contrac- tors are finding themselves in financial difficulties. The subcontractor market contin- ues to bear the brunt of this as the entity at the end of the payment trail line. As a

optimismwe all so desperately need. As the economy turns, and our planning horizons are lengthened, we can begin to fo- cus on more long range growth in the construction sector as we look ahead to 2014….small steps in recovery! Ronald C. Kerins, Jr., CCM, LEED-AP, MBA is a principal with GREY- HAWK, an award winning international construc- tion programmanagement and consulting firm with headquarters in Moore- stown, NJ. n

hat is your forecast for the commercial, industrial, retail

real estate market for the balance of 2013 and first quarter 2 0 1 4 ? A l - though we proceed with cautious op- timism that r e c ent up -

Ronald Kerins, Jr

continued from page 7A By Tracey Goldstein All sources point to a ‘pent- up demand’ in many construc- tion sectors. Corporate Amer- ica is sitting on large cash balances. Some estimates have these balances in excess of $2 trillion. Several markets, in- cluding healthcare and retail, appear to be poised for expan- health conscious, smoking complaints within multi-fam- ily buildings are expected to gain even greater momentum. For owners without smoke- free policies, the ramifications of smoking by residents and visitors alike in private units or community spaces will con- tinue to take its toll, both in terms of the physical space and with regard to tenant complaints. Because of smoke’s migratory properties, it can and will continue to interfere with the “peace and quiet and enjoyment” of others – a fact not lost on today’s educated tenant base. Tracey Goldstein is a partner with the West Orange, NJ based law firm Feinstein, Raiss, Kelin & Booker, L.L.C. n ticks in construction spending are sustainable, we feel that through the end of 2013 and the first quarter of 2014 the construction market appears to be heading in the right direction. The numbers aren’t drastically rising, but the sustainability and continuing upward movement is encour- aging. Federal Government spend- ing on construction and infra- structure is trending down- ward and the overall public sector has pulled back from recent spending campaigns, with the exception of funding for higher education projects and recovery efforts as a result of natural disasters, so there is a need for the private sector to get off the sidelines.

GREYHAWK Construction Managers & Consultants

Founded in 1996, GREYHAWK is an award-winning construction management and consulting firm that provides comprehensive construction consulting services. These services include, but are not limited to:

 Program Management  Project and Construction Management

 Construction Claims Management  Cost Management  Surety Consulting  Mediation, Arbitration, Litigation Support  Alternate Dispute Resolution [ADR]  Integrity Monitoring

 Owner’s Representative  Schedule Management  Commissioning Services  Building Condition Assessment

Our professional staff is comprised of construction managers, engineers, architects, certified cost engineers, schedulers, commissioning specialists, roof inspectors and technology experts. Some of our professionals are recognized expert witnesses who prepare expert reports on virtually all of the typical entitlements and associated damages. GREYHAWK provides expertise to stakeholders invested in a variety of projects including educational, healthcare, hospitality, residential, transportation, infrastructure, environmental, industrial, commercial, cultural and correctional facilities.

888.280.HAWK (4295)


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