Permitting delays, rising construction costs, and an evolving political climate in Trenton took center stage as the Industrial and Office Real Estate Brokers Association (IOREBA) hosted its 2026 Annual Developer’s Night at the Marriott at Glenpointe on March 30.
The event, a staple for the region’s commercial real estate (CRE) sector, convened a high-powered panel of developers, legal experts, and asset managers to dissect the “new reality” of the New Jersey market. While long-term opportunities remain, the consensus leaned toward a measured and pragmatic outlook as firms grapple with a tightening economic and regulatory environment.
Moderated by BINJE Owner and Editor, Tom Bergeron, the panel featured:
- Steven Senior, Senior Partner at Riker Danzig LLP
- Jack Fersko, Co-Chair of the Real Estate Department at Greenbaum, Rowe, Smith & Davis LLP
- Jared Zatloukal, Managing Director at Principal Asset Management
- Peter Feldman, Vice President at Saddleback Real Estate and President of Legacy Real Estate Developers
The discussion highlighted that while tenant demand persists, the “path to delivery” has grown increasingly treacherous. Panelists noted that permitting timelines and regulatory complexity remain the primary bottlenecks for new project execution. These hurdles are further compounded by spiked energy expenses and rising construction costs, which continue to squeeze deal feasibility.
With the event taking place just months after the inauguration of New Jersey’s new administration, the “Trenton factor” was a point of intense focus. Panelists noted that while there are early, positive signals from the new leadership, systemic challenges regarding state-level policy and land use are unlikely to be resolved overnight.
The industry is watching closely for signs of streamlined approval processes or incentives that might offset the current capital market constraints and high operating costs.
Across both sectors, the mood was one of resilience tempered by caution:
- Industrial: Continues to benefit from regional logistics demand, though investment decisions are being weighed more heavily against capital costs.
- Office: Remains in a period of evolution, with developers focusing on “flight to quality” and adaptive reuse as tenant requirements shift.
“Developer’s Night continues to provide a valuable forum for candid discussion around the issues shaping our industry,” Lorenzo Lambiase, President of IOREBA and Vice President at NAI James E. Hanson said. “This year’s conversation reflected both the resilience of the market and the realities developers are navigating today.”
