A Manufacturing Comeback?

From NJBiz:

CBRE: 2018 strong year for NJ manufacturing real estate

Boosted by the sale of a Jersey City manufacturing property, the real estate services and investment firm CBRE is forecasting 2018 to be one of the strongest years for New Jersey’s manufacturing real estate market.

Based on third-quarter data, New Jersey is expected to close a total of 49 manufacturing-related real estate transactions by the end of 2018, according to the commercial real estate firm.

That marks a 63 percent leap from four years ago. New Jersey saw 30 such transactions in 2015, 43 in 2016 and 46 in 2017, the report said.

CBRE’s Robert L’Abbate and Thomas Monahan recently closed the $17 million sale of a 93,000-square-foot manufacturing facility in Jersey City on behalf of the property’s seller, Elementis Specialties Inc.

“It’s encouraging to see a steady rise in manufacturing transactions over the course of the last several years in New Jersey, with 2018 predicted to follow that same trajectory,” L’Abbate said in a prepared statement. “The Jersey City transaction is the perfect example of how developers can unlock the value of underutilized manufacturing facilities in the tristate area.”

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79 Responses to A Manufacturing Comeback?

  1. grim says:

    Looks like a blue wave in Jersey for sure.

  2. grim says:

    Old friend of mine is involved in the startup, got a little sneak peak a few months back. It’s pretty amazing tech.

    https://www.cnbc.com/2018/10/23/norths-focals-smart-glasses-first-look.html

  3. ExEssssex says:

    I just took a healthy Trump.

  4. grim says:

    Google glass is a travesty compared to these.

  5. Juice Box says:

    Grim AY! a bunch of ex-blackberry guys up there in
    The cold north. Take look a the injectable tech craze in sweden, that one might get some legs.

  6. ExEssex says:

    Meanwhile education out west looks like this: https://www.shondaland.com/act/a19449580/charter-schools/

  7. leftwing says:

    6:49. Woman in the photo come with the glasses?

    “The cowardly, orange draft dodger…McCain should have stuck his middle finger up first before putting his thumb down.”

    I have never been registered with either major party and I am no fan of the orange one…

    Again, the difference for me is transparency. Trump does not try to hide who is he nor does he offer faux concern or feelings. He is who he is.

    Meanwhile, the liberal Repubs (McCain) through the Left (Clinton, Obama) put up this front of care and compassion while they truly do not give a fcuk except for themselves and family.

    Trump v. McCain (Clinton, Obama, etc) is a distinction without a difference.

    If someone is going to screw me I prefer to see them coming in the light of day. Much better than getting a knife in the back in the dark from a “friend”.

    That’s why I’ll always support the Right. They lay it out there without varnish, you’re on your own. No “I feel your pain” BS.

  8. Bystander says:

    You mean the right does not wash themselves in holy water, dry themselves in the American flag and eat at a table of family values? Trump portrays himself as the smartest man in the world every day. C’mon now..he is the meaning of bs artist. I don’t disagree that politicians like Clintons are slimy, self enrichers but there has to be somebody better on R side to support. The Dems obviously have no one if they are trotting out weak players like Warren. Why can’t Bloomberg or some other sane brain moderate get in there.

  9. Mr Obvious says:

    Heard Celgene in Summit will be starting up some manufacturing lines

  10. 3b says:

    No good people will choose to run for office. They and their families will be destroyed.

  11. leftwing says:

    “Trump portrays himself as the smartest man in the world every day. C’mon now..he is the meaning of bs artist.”

    Agree. But he is what he is, and he doesn’t try to hide it or change.

    “The Dems…Why can’t Bloomberg or some other sane brain moderate get in there.”

    Zero chance of making through the primaries.

  12. Libturd...look me up in Costa Rica says:

    The DNC should never have shut down Bernie. The right would have been cringing for 8 years. HRC was a complete joke.

  13. Ottoman says:

    It’s fun watching the rethuglicans pretend to be the champions of mandatory pre-existing conditions in insurance plans when, not only did they vote to repeal it 72 times in republican-led Congress and 19 republican- led states have sued and continue to sue to remove them, but Trump just made it possible for the ACA to include insurance plans without preexisting condition coverage—2 days ago. ICYMI

    Also fun, rembering when the right wing was all in a tizzy about the Ebola threat— until the day after the election.

    And that’s the other thing, Republicans have had total control of federal government and 30 states for 2 years, and yet they can’t seem to protect us from caravans of 5 year olds and mythical middle easterners hording our Wall-less southern border.

    If you ever needed proof that science was right when it found conservatives have extra large fear centers AKA amygdalas in their “brains”, here it is.

  14. Ottoman says:

    True. Unfortunately lessons are rarely learned until the house is completely burned to the ground. Por ejemplo, Obama putting Wall Street in charge of the financial crisis.

    Libturd…look me up in Costa Rica says:
    October 24, 2018 at 9:29 am
    The DNC should never have shut down Bernie. The right would have been cringing for 8 years. HRC was a complete joke.

  15. 3b says:

    Bomb found in front of Bill and Hillary’s house in Chappaqua NY.

  16. 3b says:

    When they shut down Bernie the young people lost interest.

  17. Blue Ribbon Teacher says:

    So how long before google buys them out and screws them up?

  18. Libturd...look me up in Costa Rica says:

    “When they shut down Bernie the young people lost interest.”

    Absolutely. It will be interesting to see if he runs again and if so, whether he chooses the Dems again?

  19. Blue Ribbon Teacher says:

    Bomb found in front of Bill and Hillary’s house in Chappaqua NY.

    Insane, and also stupid. What are the chances they even open up their own mail?

  20. 3b says:

    Indian American Professor at Brooklyn College under fire for stating all illegals should be deported and that Hispanic immigrants are not desirable as so many drop out of high school. He further stated we need an educated workforce and compares Hispanic educational levels to Indian.

  21. 3b says:

    Lib I think he might run again as an independent. He would have scared the crap out of the vested interests who control this country. Would have been much for entertaining than Trump!

  22. Libturd...look me up in Costa Rica says:

    I actually think his extreme left policies would never have passed leaving a very balanced four years. I like a mixed government.

  23. 3b says:

    Lib true but he might have scared them enough to actually do something beneficial for the vast majority of Americans that work for a living.

  24. 3b says:

    Blue. Very true.

  25. TAG Int Rates says:

    Why the yelling about interest rates at JP? See link below, scroll down until you see the spreadsheet – someone has floating rate real estate loans with Deutsche,

    https://twitter.com/TruthGundlach/status/1054887528614903808

  26. Ottoman says:

    In case there was any doubt MAGA means the return of Amos and Andy, have you heard the latest? Apparently, those evil globalist hook-nosed Jews are swarming for Gillum in Florida. Lawsy mercy, you’uns real white folks best gets to votin’ these darkies back to the plantation!

    In other news, who knew Republican civility means sending mail bombs to former presidents and presidential candidates? Protip for dummies: it’s unlikely Hillary toddles on over to the mailbox herself after she drops the garbage can at the end of the driveway on her way to Stop and Shop.

  27. 3b says:

    Market Watch story. One third of homeowners are paying for home renovations with credit cards.

  28. Libturd...look me up in Costa Rica says:

    That’s right Otto. She keeps all of her mail on a bathroom server built by her greatest campaign contributors. But the foundation didn’t work that way.

    I heard the only reason HRC wasn’t given house arrest for her criminal acts was that they were afraid the ankle bracelet wouldn’t fit.

  29. Juice Box says:

    – From CNN

    “Watch as CNN anchors report during evacuation outside of CNN building on CNN”

    queue commercials first…

  30. ExEssex says:

    11:12 I did the fixer upper routine in NJ. Hired out the big stuff and swore NEVER AGAIN the place I got in soCal move in ready. Resto projects are for the very young, the really retired (with money), not this fella.

  31. ExEssex says:

    11:33 I’m pretty sure that once most Americans took a look at her actions after her husband was shown to be a complete Schweaty Balled f*ck Monkey. They lost all respect for the cankled one. That and her personality makes one think of sandpaper.

  32. ExEssex says:

    Not to overly objectify the poor woman, but has anyone every uttered — throw your cankles around my neck baby……oh yassss ugh ugh ugh…..see what I mean?

  33. 1987 Condo says:

    “Market Watch story. One third of homeowners are paying for home renovations with credit cards.”…

    is this just a smarter approach since you can more easily declare bankruptcy on credit card debt and protect the house?? Are they also just jumping from one “zero” APR deal to another?

  34. Fast Eddie says:

    The leftwing sending b0mbs now in their latest, desperate attempt to swing votes. Russian collusion failed, sexual assault allegations failed and this latest trick will fail.

  35. ExEššex says:

    12:14 who knows really. It could be anyone. This whole scene has admittedly gotten weird as hell. Wake me Nov 7

  36. Fast Eddie says:

    Sure, let’s plant the most rudimentary and small scale explosive possible and make sure they are found. Okay lefties. Can you imagine someone falling for this ruse? LOL!

  37. The Great Pumpkin says:

    A fresh round of housing forecasts suggest that home prices in the state of New Jersey could rise faster than the national average in 2019. In some cities (such as Newark, Jersey City and Paterson), home prices are predicted to rise by double digits over the next 12 months or so. These forecasts come from the economic research team at Zillow.

    Strong Home-Price Forecasts for New Jersey Cities
    Home prices in most New Jersey towns and cities have risen steadily over the last few years. The same goes for most cities across the U.S.

    Recent forecasts point to a continuation of this trend. In fact, one set of predictions suggest that many New Jersey cities could far exceed the national average for home-price appreciation over the next year.

    In October, the housing analysts and economists at Zillow issued some new projections for home prices in New Jersey. By their estimation, the median home value for the state could rise by around 7.1% over the next 12 months (ending in October 2019). That’s higher than the actual recorded gains of the previous 12 months. It’s also higher than the national forecast for the next year.

    But when you drill down to the municipal level, the home-price forecasts are even stronger. For some cities and towns in New Jersey, the company has predicted double-digit home price gains between now and fall of 2019.

    Here are some examples:

    Newark: The team of analysts predicted that the median home value in Newark would rise by a whopping 12.6% over the next year or so, through fall of 2019. That’s nearly double their outlook for the nation as a whole. The median price in Newark is currently around $233,900, as of October 2018.

    Jersey City: The group sees home values in Jersey City rising by around 12.8% over the next year. So this forecast resembles the one issued for Newark. At present, the median house price in Jersey City is around $456,000.

    Paterson: The real estate market in Paterson, New Jersey is also expected to keep appreciating at a steady pace. In October 2018, it received a one-year home price forecast of 13.1%. The median value in Paterson was around $236,000 when this article was published.

    Elizabeth: The largest city in Union County had a one-year home value forecast of 10.2%. The median price in Elizabeth is currently around $264,000.

    The Big Picture
    Granted, these are just forecasts. They’re an educated guess based on current conditions within the real estate market, and expected changes over time. There’s plenty of room for error with this kind of prognosticating. So we probably shouldn’t get too wrapped up in the exact numbers being projected here.

    It’s the bigger picture that’s important, and it can be summed up as follows:

    Forecasts from several sources suggest that home prices in New Jersey will continue to rise throughout 2019, as they have done in recent years.
    In some NJ cities and towns, home values are predicted to rise by double digits between now and the fall of 2019.
    Home buyers who are “on the fence” about making a purchase might want to consider doing it sooner rather than later, to avoid higher housing costs down the road.

  38. Fast Eddie says:

    By the way, if I don’t get to the train station by 6:30 AM, there is no place to park. It wasn’t like this a few years ago. Many people going to work.

  39. The Great Pumpkin says:

    He’s just calling like he sees it. Of course he will be called racist for this.

    3b says:
    October 24, 2018 at 9:53 am
    Indian American Professor at Brooklyn College under fire for stating all illegals should be deported and that Hispanic immigrants are not desirable as so many drop out of high school. He further stated we need an educated workforce and compares Hispanic educational levels to Indian.

  40. Bystander says:

    ..or have to commute to city now for decent paying job. For higher than average unemployment states like NJ or CT, that is the case. I went through this recently. The amount of sh$tty paying jobs was staggering.

  41. The Great Pumpkin says:

    I think I’m going to go buy some properties in those cities listed above. It’s a no brainer move. Writing is on the wall.

  42. Bystander says:

    Please do..I hear wage inflation is coming any minute now

  43. The Great Pumpkin says:

    That’s why I paid more for turn key, renovating is rough! That’s why you save money, you get a headache.

    ExEssex says:
    October 24, 2018 at 12:03 pm
    11:12 I did the fixer upper routine in NJ. Hired out the big stuff and swore NEVER AGAIN the place I got in soCal move in ready. Resto projects are for the very young, the really retired (with money), not this fella.

  44. The Great Pumpkin says:

    Oh sure. I like making money. Appreciation combined with positive cash flow is a beautiful thing. It beats the stock market when conditions for appreciation are right.

    Bystander says:
    October 24, 2018 at 12:56 pm
    Please do..I hear wage inflation is coming any minute now

  45. The Original NJ ExPat says:

    Forget RE; stay the course with Pancake in a can.

    Hahahaahahahahaahaaaa

  46. Bystander says:

    Paterson, Blumpy? Hah, did you say positive cash flow or crack flow?

  47. Blue Ribbon Teacher says:

    IMO, Jersey City is a ticking time bomb. The second they are forced to pay even half of the costs for their school district, property values sink.

  48. 3b says:

    1987 Good point! Max out all the cards but one then declare bankruptcy!!

  49. Juice Box says:

    Pic of explosive device sent to Florida on CNNs twitter feed, notice the markings? Looks like the flag of a a certain terrorist group in Syria/Iraq, usually translated to “”There is no god but Allah”.

    https://twitter.com/CNNPolitics/status/1055148501192138752?s=19

  50. ExEssex says:

    Note to self – no helocs. Thanks

  51. Juice Box says:

    Correction sent to CNN in Manhattan..

  52. Libturd...look me up in Costa Rica says:

    I think the bomb that was sent to CNN was meant for MSNBC.

  53. The Great Pumpkin says:

    This is wrong on so many levels. Running up deficit to give people flush with cash, even more money. Makes absolutely no sense. Instead of tax cuts for the wealthy, use the money to fix the infrastructure, it’s falling apart for god’s same.

    https://www.pbs.org/newshour/economy/making-sense/companies-are-paying-less-after-the-gop-tax-cut-and-its-showing-in-the-deficit

  54. 3b says:

    Ugly day on Wall Street today.

  55. leftwing says:

    Except for TSLA….. :)

    Will exit tomorrow. Some things are beyond understanding for me….I spent 15 minutes with the K and Q about a month ago (posted it here) and for the life of me could not find refi risk this year, just $200m due (everyone said they needed $2.0B).

    Stock up $20 after market, 7-8%, CNBC auto analyst attributing it to “no refi risk” based on the quarter. WTF…

  56. Bagholder says:

    ‘Pic of explosive device sent to Florida on CNNs twitter feed, notice the markings? Looks like the flag of a a certain terrorist group in Syria/Iraq, usually translated to “”There is no god but Allah”.’

    Eddie already let everyone know it was a false flag by libs, so that’s probably a misdirection.

  57. The Great Pumpkin says:

    Is it warranted? Hell no.

    This is why the stock market will always be viewed as a cas!no. It’s huge sums of money concentrated in a few hands. When these big dogs get cold feet, they act like a herd, and take down the market.

    This is why real estate is not a cas!no. It’s spread over so many hands, and can’t be dumped with a flip of the finger.

    3b says:
    October 24, 2018 at 3:59 pm
    Ugly day on Wall Street today.

  58. The Great Pumpkin says:

    This is also why the stock market will always have huge drops every so often out of nowhere. At least a couple every century.

    The market is a got damn cas!no.

  59. 3b says:

    The market drop is overdone. And it’s all Trumps fault because that’s what social memos is saying

  60. Blue Ribbon Teacher says:

    Climate change is some made up boogeyman, right?

    No, just the deathly predictions that will occur from it are.

  61. yome says:

    We have American Soldiers stationed all over the World protecting other Countries border yet we have issues protecting our own

  62. The Great Pumpkin says:

    3b,

    The point I’m trying to make is that there is no logic to the stock market. It’s not run like a science, it’s run like a cas!no based on the emotion of the big dog owners of stock equity. Sometimes earnings matter, sometimes they don’t. It’s all on the emotional sentiment of the big dogs.

    The only sure bet is long term, we know the economy will grow in the coming decades, but this too will one day no longer apply as population peaks.

  63. The Great Pumpkin says:

    To have people claiming climate change is a hoax is just hurting our chances even more. 99% of the species on this planet have gone extinct in the fight with Mother Nature, what makes us think we can just ignore Mother Nature? Stupidity.

  64. D-FENS says:

    Markets are poop today. That’s my expert analysis.

  65. Blue Ribbon Teacher says:

    It’s actually 99.9% of species. But it’s not like they all existed at once and should have all been here. If the previous 99% never died off, mammal would never have existed in the first place? New species arise when old species fall. It’s been the way of the world since life first appeared on the Earth.

    What’s your solution the problem you claim exists?

  66. leftwing says:

    I’ve said it for years. Need a major plague. Take world population from 7B and change to about three. China and India taking main hit, 3/4 of their population.

    Fixes nearly every quality of life and survival issue (for the survivors of course).

  67. D-FENS says:

    America needs a band like Rage Against The Machine right about now.

  68. The Great Pumpkin says:

    I’m trying my damn best to not let our species suffer the same fate as the previous 99.9%. If that means throwing money at the problem to understand it and come up with a solution, I’m all for it. We can always kick the can down the road, which is what you seem to be for.

    Blue Ribbon Teacher says:
    October 24, 2018 at 5:26 pm
    It’s actually 99.9% of species. But it’s not like they all existed at once and should have all been here. If the previous 99% never died off, mammal would never have existed in the first place? New species arise when old species fall. It’s been the way of the world since life first appeared on the Earth.

    What’s your solution the problem you claim exists?

  69. The Great Pumpkin says:

    Sad to say, but this is a good solution for our species.

    leftwing says:
    October 24, 2018 at 5:32 pm
    I’ve said it for years. Need a major plague. Take world population from 7B and change to about three. China and India taking main hit, 3/4 of their population.

    Fixes nearly every quality of life and survival issue (for the survivors of course).

  70. ExEssex says:

    5:46 That’s what Paul Ryan said……..

  71. Yo! says:

    Nothing to worry about. Realtors say all clear on economy through 2020.

    NAR’s Yun Predicts No Recession in 2019, 2020
    Yun blamed the low inventory of moderately-priced homes as a chief reason why home sales are not increasing and home sales prices are rising.

    By John Jordan | October 23, 2018 at 03:37 PM
    NAR chief economist Lawrence Yun at the Global Real Estate Summit NYC 2018 at the Marriott Marquis hotel.
    NEW YORK CITY—A packed room of real estate professionals from the New York City region were delighted to hear the economic prognostications of National Association of Realtors chief economist Lawrence Yun, which included his prediction that the US will not go into recession next year or the year after.

    Yun, speaking at the “Global Real Estate Summit NYC 2018 co-sponsored by the Staten Island Board of Realtors and the Hudson Gateway Association of Realtors on Monday, said he also expects the US residential sales market to hold its own in 2019, despite recent declines in sales activity and the specter of rising mortgage rates. In fact, he predicted a dip in sales in 2018 and for home sales to rise in 2019.

    “In my view I don’t see a recession occurring in 2019 or even possibly 2020,” Yun said. “2021 is a bit too far out so one has to see new data coming in, but at least for the next few years we are fine in terms of economic expansion.”

    The NAR chief economist told the gathering at the Marriott Marquis hotel that a host of positive economic data including eight straight years of job growth, a strong stock market, low unemployment and record high net worth will bolster the residential sales market in 2019.

    While lending rates will climb, he said the Federal Reserve is taking a measured approach to raising short-term rates, which will therefore not significantly impact the market. Yun expects the Fed will raise short-term rates at its meeting in December and will raise rates two to three times in 2019.

    With the strong economy and still low interest rates, home sales nationwide are not rising as one would expect. Yun blamed the low inventory of moderately-priced homes as a chief reason why home sales are not increasing and home sales prices are rising. The Western region of the US has seen a dramatic decline in pending contracts, which Yun blamed on affordability, noting that a San Jose, CA resident needs to earn $275,000 a year to purchase a median-priced home there.

    He said that the inventory issue has frustrated many prospective homebuyers, resulting in a decline in buyer optimism. One way to help alleviate the inventory issue is to increase the rate of new home construction, particularly in the moderately-priced category.

    Some of the remedies Yun said could bolster new home construction include:

    • provide regulatory relief to community banks;

    • remove tariffs on lumber and building materials;

    • don’t be too stringent on zoning land use;

    • repurpose malls into condominiums and

    • provide vocational training for those seeking to enter the construction industry to help relieve the labor shortage in the construction sector.

    Yun said that if there is a bubble in the near future, it would be in the commercial real estate sector, noting that commercial prices have risen much faster than residential real estate.

    He advised those who represent commercial real estate owners to be cautious because at present cap rates are very low and in a rising interest rate environment, cap rates will rise.

    Yun said commercial real estate owners will be forced to either secure high rents from tenants, which may be difficult, or be forced to reduce the price of the property if that owner wishes to sell the building.

    This scenario will lead to what Yun described as a potential standoff between the owner and the buyer, where the owner believes the property is worth a high value due to the strong economy and tenant roster, while the buyer points to higher lending rates and cap rates and refuses to purchase the property at that price.

    If this scenario takes hold, Yun said some commercial property owners will find it difficult to trade their properties unless they are willing to be flexible on the sale price.

  72. D-FENS says:

    Instead of safe spaces we need mosh pits.

  73. Blue Ribbon Teacher says:

    I’m trying my damn best to not let our species suffer the same fate as the previous 99.9%. If that means throwing money at the problem to understand it and come up with a solution, I’m all for it. We can always kick the can down the road, which is what you seem to be for.

    We aren’t kicking the can down the road. We as humans adapt to every change that occurs. Throw your own money at the problem. First, actually prove the problem exists in the first place. The doom and gloom that is predict by the climate community is absolutely asinine and scientifically ignorant. It’s the worst case of group think in the past century in academia.

  74. The Great Pumpkin says:

    Blue,

    Fair enough, hard to argue with that position.

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