4B — January 17 - 30, 2020 — New Jersey — M id A tlantic
Real Estate Journal
www.marej.com
N ew J ersey
Seminar examines trucking industry challenges, lastmilemobility, transit & site selection trends NAIOPNJ Transportation&Logistics Update considers issues critical to moving goods & people through NJ E development plans, as well as the timing and expectations of the Gateway Project.
basics: infrastructure, people and technology,” said Corbett, “and that focus has started to pay off.” He cited numerous improvements and efforts to upgrade service, including the purchase of 183 new cruiser buses and 85 articulated buses to expand capacity in North- ern NJ; and the launch of an electric bus pilot in Camden in 2021. New multilevel railcars have been ordered and delivery of 17 new locomotives begins next year. Addressing the en- gineer shortage, Corbett said, “We have seven locomotive engineer training classes run- ning concurrently, the most in our history.” On the infrastructure side, NJ Transit is taking stock of its assets and committing over one billion dollars to capital projects as part of its new five- year capital plan, due out this spring. “The plan will include rebuilding the Portal North Bridge,” said Corbett. “We submitted a much stronger proposal than before and as- suming it goes through, we will be advertising for construction in the second or third quarter of 2020.” Other major projects in the plan include reconstruction of Elizabeth Station and replac- ing the Raritan River Bridge, a nearly $600 million project scheduled to start construc- tion in 2020. The organization has also established an office of Real Estate Development to support local communities through Transit-Oriented De- velopment (TOD). “This is a great opportunity for developers to help us create thriving local communities. I encourage you to begin due diligence in advance of some TOD projects in the pipeline. We’re coordinating with our host municipalities and expect to begin issuing solicitations in early 2020.” Supply Chain Challenges Spur Transformation of Corporate Site Selection Process Steve Pastor , team leader for NAI James E. Hanson’s Global National Logistics and Ports/Rail Practice Group , led a panel discussion on logistics challenges. “Corpo- rate America is changing the entire methodology of their site selection process. Companies can no longer absorb 30+ per- cent transportation increases. They are looking to be as close continued on page 12B
DISON, NJ — Keeping goods and people mov- ing through the Garden State and the trends influenc- ing the state’s corporate site selection process were the focus of NAIOP New Jersey’s 2019 Transportation & Logistics Up- date. The latest installment of the commercial real estate de- velopment association’s “Build- ing a Better NJ” series, held at the Carpenters Apprentice Training Center in Edison, addressed “hot button” issues including trucking industry challenges, last-mile mobility trends, and NJ Transit's asset
Back to Basics at NJ Transit
“When transit works well, it benefits commercial real estate,” said keynote speaker Kevin Corbett , president and CEO of NJ Transit . He listed the challenges he faced walking into the organization, includ- ing a shortage of locomotive engineers, ancient rail cars and buses, and 12% implementation of the federally mandated Posi- tive Train Control system. “We had to get back to the
Shown from left: Michael McGuinness, NAIOP New Jersey CEO; Kevin Corbett, president and CEO of NJ Transit; and Eugene Preston, NAIOP NJ president.
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