NAIOP: Leading developers share adaptive reuse success stories

NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook last week examined the impact of global, regional and local economic trends on the industry, and took an in-depth look at the complexities and strategies behind some of New Jersey’s most successful adaptive reuse projects. Hundreds of commercial real estate industry leaders attended the event, which was held at the Hilton Short Hills.

The program included a presentation by Spencer Levy, global client strategist and senior economic adviser with CBRE, who spoke about how understanding the challenges presented by the current economic climate can give commercial real estate companies a strategic edge. Gensler’s Dana Nalbantian also moderated a panel discussion on adaptive reuse that covered topics including best and worst decisions and lessons learned for future projects.

In addition, the commercial real estate development association elected its 2023 officers and trustees, welcoming Mark Shearer, senior managing director for Rockefeller Group’s New Jersey and Pennsylvania region, as incoming president.

“My focus for this year will be for our chapter to reach out, educate and communicate with towns and to clearly show the value we add to their local economies and quality of life and opportunities for their residents; advocate for a more uniform and streamlined entitlement process at the municipal level; continue to collaborate with other trade and business groups, local officials, the New Jersey League of Municipalities and building coalitions wherever we can to advance sound public policy and accurate information about our industry,” Shearer said. “We also need to support policies and efforts to encourage more workers to return to a more full-time occupancy in office buildings.”