EAST RUTHERFORD, NJ—Multifamily and “grocery-anchored” retail are high on investor shopping lists, says José Cruz, managing director of HFF and the investment market is "white hot," says Brian Hosey of Marcus & Millichap. The two are panelists at RealShare New Jersey this morning.
In comments provided exclusively to GlobeSt.com in advance of his appearance at the conference, Cruz says, “Multifamily continues to be a safe haven for investors seeking stability and annual growth, keeping prices for this product type at cap rates in the fours for the 'best of the best' assets. This year has also seen an increased demand for retail assets, specifically grocery anchored, propelling those cap rates also into the fours and fives, which is well below the historic norm for this asset class.”
“The New Jersey investment sales market is white hot," says Hosey. "A lot of what's driving the velocity is the 1031 exchange money flowing out of NYC. High demand, limited supply, uncertainty around the globe and low interest rates have created a perfect storm.”
Cruz and Hosey, regional manager, Marcus & Millichap joinDavid Simon, executive managing director and NJ market leader, Colliers International; and Timothy J. Touhey, senior vice president, Investors Bank on a panel entitled, “Garden State Deal Execution,” moderated by Nicholas Racioppi Jr., a partner with Riker Danzig Scherer Hyland & Perretti, scheduled to start at 8:35 a.m. The conference kicks off today at 7:30 a.m. at the Hilton Meadowlands in East Rutherford, NJ.
Foreign investors are starting to take a closer look at New Jersey commercial real estate, Cruz also says.
“Well leased office with credit and term has brought foreign capital into New Jersey creating pricing metrics at over $400 per square foot and sub-six percent cap rates,” he says. “We have seen increased activity in the investment market in 2015 and expect to end at record sales volumes for the year.”
More information on the RealShare New Jersey Conference is available at http://www.globest.com/events/realshare_event/newjersey/RealShare-New-Jersey-2015-355940-1.html
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
