Cross River Bank of Fort Lee, N.J., with net assets of just $2.5 billion, partnered with more than 30 tech firms to create an agile lending platform that provided over $5.4 billion in Payment Protection Program (PPP) loans. The privately held lender earned $160 million in fees, according to S&P … [Read more...]
6.23.20: INDOOR MALLS REOPEN IN NEW JERSEY
Indoor portions of shopping malls in New Jersey are open again with strict guidelines, but don't expect Black Friday-sized crowds. "Malls are an undeniable part of New Jersey culture, and we want these businesses to get back up and running in a safe, responsible manner," Governor Phil Murphy said … [Read more...]
8.10.16: Demand for Industrial Space in New Jersey Continues to Soar
In May 2016, CBRE Group, Inc. (CBRE) reported that developers saw a need for large industrial buildings in New Jersey and responded by developing speculative (not pre-leased) projects. While speculative development is very risky, tenants responded by gobbling up the space at a rapid rate. Demand … [Read more...]
6.17.14: A Look at Empty Office Space in Northern/Central New Jersey
The Star-Ledger, New Jersey’s largest newspaper, recently published an article that examines the direction of office demand in Northern and Central New Jersey. It provides some takeaways for office demand trends in other suburban markets. Since office properties are a large component of CMBS loans, … [Read more...]
4.24.13: Office Vacancy Struggling to Get Traction in New Jersey
According to the N.J.-based Star-Ledger, economists gauging the recovery in New Jersey can look to commercial real estate as an indicator. What they’ll find is a market that has been stagnant and struggling to get traction since the mid-2000s. And until jobs return, most sectors of commercial real … [Read more...]