But some are finding the right niches, and M. Alfieri Co. Inc., based here, is one of those that has managed to deliver some well-chosen properties recently--345,000 sf in all--in three different locations. Indeed, despite the tough going, Alfieri appears to have shifted into a higher gear with a spate of recent development activity.

The latest one is the 95,000-sf 1455 Broad St. at the company's Central Park Corporate Campus in Bloomfield, NJ. The company, which was founded in 1951, is targeting everyone from small users to major corporations "that require state-of-the-art technological amenities," according to company president Michael Alfieri.

It's the fourth facility at Central Park Corporate Campus, and it raises the total space at the class A property to 380,000 sf. The new building, which features a solar panelled facade, has been developed totally on spec. The company also plans to implement extensive and ongoing landscaping improvements at the property.

The other two properties the company has turned out recently, also on spec, include 395 Rochelle Park in Rochelle Park, NJ and a 100,000-sf class A building just off the Garden State Parkway. It's said to be Bergen County's first speculative office project in a decade. The other is actually a renovation: 100 Southgate Parkway, a 150,000-sf class A building in Morristown, is a former AT&T facility.

In its 49-year history, the company has put its stamp on the office market here by developing more than six million sf of class A space around the Garden State. The company is also one of the largest holders of commercially developable land in New Jersey.

"We own a total of about 1,000 acres at various locations," Alfieri explains. "It is our plan to develop up to eight million sf of corporate real estate on this land."