SHORT HILLS, NJ—The commercial real estatemarket will benefit from the business-friendly provisions of thejust-enacted tax reform bill, and markets that are attracting jobsare likely to be the best-performers for all sectors of CRE in theremainder of the year, according to presenters at the NAIOPNew Jersey Commercial Real Estate Outlook held at theShort Hills Hilton Monday evening.
“Good old-fashioned supply and demand still matters, but it'snot the most important thing,” says Spencer Levy,Americas head of research and senior economic advisor forCBRE, the keynote speaker at the program. “Themost important thing is the scarcity of talent, meaning that ifyou're going to grow your business, you have to go to places thatcan grow your top line.” That typically means areas that haveuniversities generating a talent pool and a live-work-playenvironment that's able to retain those graduates, he says.
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