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Jeffrey J. Milanaik of Bridge Development, NJ DEP Commissioner Catherine McCabe, and NAIOP NJ CEO Michael McGuinness were among speakers addressing the changes.
The WeWork location at the west Victory Plaza office building at 3090 Olive St. will consist of two full floors on the second and third levels and is slated to open in early 2019.
The new wave of retail, driven by e-commerce, requires just-in-time delivery and consumer demand inventory, which has businesses rethinking supply chains to accommodate these criteria.
The cargo volume increase was fueled by a 7.8% rise in loaded import containers, primarily carrying commodities such as furniture, appliances and beverages.
The expansion area will be incorporated into the current Special Improvement District, making MSBA's services available to the more than 30 businesses located within the new area.
A newly formed JV will focus primarily on the branded, premium select service and extended-stay segments of the hotel space in primary and secondary markets which demonstrate positive demand factors.