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NYC companies not moving to NJ as of yet for the most part

Move from NYC to NJ

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Is your office building healthy?

In a typical year you will take two million breaths in your office. This, however, is not a typical year. The pandemic spawned by the novel coronavirus has forced a global reckoning with the awesome power of infectious diseases to grind economies to a halt. The forced lockdowns and retreat into home isolation has also given us a heightened awareness of the role our surroundings play in our health and wellbeing. COPYRIGHT © 2020 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. 2 While no one could have predicted the exact nature of the outbreak that is now upending our lives, many of us working in public health have been urgently advocating for organizations to invest in healthier buildings for some time. History tells us that buildings play a central role in the spread of disease. From measles to SARS to influenza and the common cold, the scientific literature is full of examples. But, as much as buildings can spread disease, if operated smartly, they can also help us fight against it. Amidst the chaos, one thing is clear: We will all go back to work with new expectations about the buildings where we live, learn, work, and play. Buildings that Fight Disease and Promote Health For our book, Healthy Buildings: How Indoor Spaces Drive Performance and Productivity, the two of us have spent the last three years speaking to executives across the business spectrum who oversee real-estate portfolios that cover several billion square feet and contain millions of employees. We aimed to better understand how to drive healthy building science into practice. Locked in a global battle for talent, the business leaders we spoke with were eager to find new ways to attract, retain, and enhance the performance of their employees. Few of them realized that their buildings could play a vital role in the health of their business. In response to Covid-19, that’s rapidly changing. CEOs from companies large and small have come out of the woodwork to engage with us on how to design, operate, and manage better buildings. Calls are also coming in from groups that run medical offices and dental clinics, hotels, schools, airports, and theaters, as well as mid-size law firms and small businesses in both small towns and major metropolitan areas. The question on the mind of every business and organizational leader is this: When the time comes, how do I re-populate my buildings and restart my business? Re-Populating Your Buildings As you prepare for the return of your employees, remember that the scientific models on the spread and containment of SARS-CoV-2 indicate this is a problem we will be dealing with for at least 12 months. Likely approaches to controlling the spread and damage from the virus include a combination of widescale testing, and periodic isolation and quarantine. Some cities and regions will begin re-populating their buildings over the next few weeks, and some will likely be hit with repeated cycles of social distancing. In either case, as employees return to offices, there is a framework companies can deploy to keep people safe without crippling their businesses and our economy. First, we all have to understand — and communicate to employees — that there is no such thing as zero risk. The goal is to minimize risk, and we can get there using a layered defense approach by applying what is known in public health as the hierarchy of controls. COPYRIGHT © 2020 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. 3 The hierarchy of controls is how the field of occupational health thinks about protecting workers from any hazard — biological, chemical, or otherwise. There are five types of controls, moving from the most e†ective at the bottom to least e†ective at the top

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Major Morristown Deal

MORRISTOWN, N.J. — Accounting firm Deloitte has preleased a 110,000-square-foot office space at M Station, an office redevelopment project in Morristown. SJP Properties and Scotto Properties plan to convert the Midtown Shopping Center strip in downtown Morristown into two office buildings totaling 400,000 square feet. Deloitte’s lease is contingent on SJP and Scotto receiving full municipal approvals for the project. The company plans to relocate from its previous office in Parsippany and will occupy floors two through six of M Station East. The building will also include 10,000 square feet of ground floor retail. M Station West is planned to be seven stories and approximately 253,000 square feet, which will include approximately 230,000 square feet of office space and 23,000 square feet of retail space. David Stefancic, Lexis Livengood, Ben Brenner and Josh Cohen of Cushman & Wakefield represented Deloitte in the lease negotiations. Robert Donnelly, Robert Donnelly Jr. and Brian Decillis of Cushman & Wakefield represented SJP and Scotto. Gensler designed the project.

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New Medical Building in Glen Ridge

Glen Ridge and Montclair, N.J. – A ribbon cutting ceremony was held on Thursday for a three-story, 45,735-square-foot state-of-the-art medical office building at the former School of Nursing site across from Hackensack Meridian Health Mountainside Medical Center on the border of Glen Ridge and Montclair, N.J. Developed by The Hampshire Companies with Circle Squared Alternative Investments (Circle Squared) serving as the project advisor, the modern medical office building is anchored by Hackensack Meridian Health. The project enhances the scope and quality of comprehensive healthcare services and brings additional economic and quality-of-life benefits to the communities Mountainside Medical Center serves. Jon F. Hanson, James E. Hanson II, and John Durso from The Hampshire Companies and Jeff Sica of Circle Squared Alternative Investments were joined by top local and hospital officials to celebrate the milestone event including John Fromhold, FACHE, CEO of Mountainside Medical Center, Robert C. Garrett, CEO of Hackensack Meridian Health, , David Vandewater, CEO of Ardent Health Services, Frank Fekete, Chairman of the Hackensack Meridian Health Mountainside Medical Center Joint Venture Board, Tim O’Brien, COO of Mountainside Medical Center, and Glen Ridge Mayor Stuart K. Patrick. The state-of-the-art facility will provide increased access to quality care for the community providing a home for a variety of Hackensack Meridian Health’s specialty groups at Mountainside Medical Center including obstetrics and gynecology, internal medicine, family medicine, urology, general surgery, cardiology, orthopedics, ENT, pulmonary, GI, endocrinology, pediatrics and pediatric subspecialists from the John M. Sanzari Children’s Hospital at Hackensack University Medical Center.

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WHY USE A TENANT REPRESENTATIVE? BESIDES HIS SERVICE BEING FREE?

Tenant Representation: No Conflicts of Interest Whether you're relocating your business, expanding to another location or finding a home for your start-up, the commercial leasing process can be lengthy and difficult. Having tenant representation can help to simplify the process, but it's important that you choose the person who will be by your side throughout the process carefully. Many companies make the mistake of thinking that all tenant representation is the same, but that's simply not the case. These key points will help you understand the differences between tenant representation options. Tenant Reps and Brokers are Not the Same Tenant representatives and brokers both assist with the commercial leasing process, but the terms are not interchangeable. Both types of professionals can help you find office, retail, warehousing or industrial space and act as an assistant during the negotiation process, but who these individuals represent differs. Reps Work for You Brokers work for both you and the landlord. The key difference between tenant reps and brokers is for whom they work. A tenant rep serves as the advocate for the tenant only. A broker works for both the landlord and the tenant. Brokers May Tell You That You'll Save Money if You Skip Using a Rep Often, brokers who are eager to secure the business of a company will say that using a tenant representative for tenant representation will make the process more costly. This is because the landlord pays the fees of the tenant rep. While at face value this may be true, brokers also are paid a fee. Even if the broker's fees are lower than the rep's, tenants may still not see the big savings they are promised. Brokers Often Have a Conflict of Interest A broker's job is to fill the landlord's units, buildings or offices with tenants. As a result, he or she may recommend properties that are not completely in line with tenants' needs or that are not priced fairly in respect to current market trends. Choosing a Rep Frees You of Conflict of Interest Concerns With a tenant representative, you can feel confident that your interests are being looked out for. Because a tenant rep works solely for you, he or she will be most concerned with finding you the right space for your needs and helping you negotiate the fairest lease possible. That's why even if a rep's fees are higher than a broker's and the landlord folds some of those fees into your rent, you still have the potential to save money when you opt for a rep to serve as your tenant representation. Doing Background and Reputation Checks is Key While tenant reps are the smart choice for tenant representation, keep in mind that they're not all the same. Before you enlist the help of a particular rep, do some Internet research to get a feel for his or her reputation in the area. An

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Landlords Target Dining, Personal Services and Fitness to Woo Customers

Landlords Target Dining, Personal Services and Fitness to Woo Customers

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3 Technology Trends That Will Shape Commercial Real Estate In 2019

tech trends

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What’s the difference between a listing agent and tenant rep agent?

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Avoiding Office Leasing Mistakes

Avoiding Office Leasing Mistakes Office Leasing Mistakes OopsWith so many varied options for leasing office space, it can seem insurmountable to find just the right spot to meet your needs as well as those of your business! However, a few simple steps can help you in avoiding office leasing mistakes and find the best office option for you and your employees so that everyone feels welcome, productive and happy. Here are 3 suggestions that will make a big difference in avoiding office leasing mistakes for you in your search for office space. Try using a broker instead of “going out on your own”. Many smaller businesses attempt to seek future office space by way of classified ads, online postings, or even Craigslist. Obviously, this can have negative consequences for numerous reasons, not least of which can include fraudulent rentals or misrepresented properties. Hence, using a office space referral service or agent can prevent these problems before they begin. For brokers, there is no cost to you for their services. Plan for what is needed beforehand. How much space is truly needed now and in 3 years? How many employees do you have? What kind of layout do you want? How many clients visit your office for in-person service? Do you have conferences on premise, and if so, how many people generally attend them? How much parking is available, and is it enough for employees as well as any visitors you might anticipate? Giving thought to these scenarios can help you effectively predict not only how large or small of an office is necessary for your firm, but can also help you remain within budgetary constraints. Think ahead! Much like apartment rentals, individuals or companies will oftentimes leave renewals or potential moves to the very last minute, which can severely limit their options for negotiating new leases in their existing offices or finding desirable new locations. By preparing a few months ahead, you will then have enough time to weigh all your options, check in with your office space rental agent, negotiate a lease or a move, and keep your employees informed. This approach is a win-win for everyone and helps to avoid unneeded stress! Keeping things simple is a great way to go when considering new office space. To help streamline your search for the perfect go-to place for your firm, contact us today to assist in finding your office oasis and Avoiding Office Leasing Mistakes!

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Opportunity Fund in Central NJ

oppt fund

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