Real Estate

N.J. incentives creating optimism in commercial real estate

Vacancy rates in New Jersey’s office market saw little movement in 2011, but business growth and retention efforts by the state have created cautious optimism for 2012, according to a fourth-quarter market report from Colliers International. Through December, 20.3 percent of office space remained available in northern and central New Jersey, compared to 20.1 percent ...

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Experts 2012 could be beginning of resurgent housing market

At several points during the current economic recovery, the residential real estate market seemed poised for rebound, but New Jersey experts say in 2012, it’s for real. “Prices are the lowest in five years, interest rates are also very low … existing home sales are very strong,” said Robert Burchell, distinguished professor at the Edward ...

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Multifamily momentum powers property swaps

After years of collecting 16 different rent payments and “keeping track of the super,” Philip La Porta had grown tired of owning a mixed-use building in downtown Nutley. But he found the solution last year, he said, when he sold the 85-year-old apartment and retail property and purchased a Hardee’s restaurant in North Carolina. “Now ...

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Workers’ comp rate hike spike blamed on jobs

The 6.9 percent average hike in the rates used to set workers’ compensation premiums, which took effect Jan. 1, has been driven by macroeconomic forces and tied to New Jersey’s escalating medical costs and lower overall payrolls, a result of the relatively high unemployment rate, according to experts. Net premiums, the funding source for benefits, ...

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Building a new career

As a student at Franklin & Marshall College in Lancaster, Pa., Peter Reinhart planned to become a high school teacher after graduation. But he finished his studies in 1971, as the Vietnam War raged, and spent the next four months training with the National Guard. “When I got out, it was October,” he said. “And ...

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