NAIOP New Jersey's annual Regulatory, Legislative & Legal Update was held at the New Jersey Law Center in New Brunswick, N.J. (Pictured from l-r) Marilyn Lennon and Kevin Lennon (PS&S), who covered FEMA Risk 2.0, and Emily Lamond (Cole Schotz) and Don Richardson (EWMA) who spoke about contaminants. Most of the 1.3 million square feet of office space completed in that market in the last two years has been absorbed, leaving it with a vacancy rate of 9 percent at the end of 2000, according to Cushman & Wakefield, the commercial real estate services firm.
The NBPAC initiative, a 450,000 square foot project which will be located on the site of the former George Street Playhouse and Crossroads Theater on Livingston Avenue in downtown New Brunswick, will continue to distinguish New Brunswick as a premier center for the performing arts.
He received his Bachelor of Arts degree from Thomas Edison State College, and his Juris Doctor degree from Brooklyn Law School, and is admitted to practice law before the courts of New Jersey, New York, Pennsylvania, and the Federal District of New Jersey.
LoopNet also attracts a large community of New Brunswick commercial real estate professionals with more than 7 million members comprised of brokers, corporate executives, service providers, and more than 3 million buyers, tenants and other principals throughout the U.S. and Canada.
Industry experts addressed recent regulatory and legislative initiatives and the impact they are having on the state's real estate development process during NAIOP New Jersey's annual Regulatory, Legislative & Legal Update held at the New Jersey Law Center in New Brunswick, N.J. The agenda included upcoming changes to the Site Remediation Reform Act (SRRA), the recently enacted Stormwater Utilities Law, pending stormwater management rules, emerging issues surrounding contaminants such as PFAS and the implications of FEMA's efforts to redefine flood risk.
Two existing office buildings totaling 210,000 square feet that are adjacent to the lots are to be refurbished as part of the $130 million project, which is being developed by Plaza Redevelopment in partnership with the nonprofit New Brunswick Development Corporation.
With more than 30 years of experience in commercial and industrial real estate, Alec has a proven track record in providing strategic portfolio solutions to multinational corporations, including major acquisitions and dispositions and the re-positioning of assets to achieve maximum value.
All the pieces are in place for construction to begin on the New Brunswick Performing Arts Center, a theater project that will feature Boraie Real Estate New Brunswick, New Jersey dedicated rehearsal studios, 30,000-square feet of academic and office space, and 207 residential apartments in a 20-story tower.
Rutgers University has long been the focal point of the city, and the college town vibe is especially strong around the campus: Easton Avenue and George Street cater to the student population's appetites with restaurants, nightlife, entertainment venues, and the famous Grease Trucks.
By transforming the declining neighborhood adjacent to the train station through this high-density, mixed-use redevelopment project, DEVCO anticipates substantial benefits for New Brunswick. New Brunswick's Redevelopment Authority named the group the developer of the 10.5-acre parcel, bounded by Route 18 and Burnet, George, New, Liberty and Richmond Streets.