If you’re in the sector, you know NAIOP NJ is the local chapter of the national commercial real estate organization.
If you’re not, you likely have no clue what NAIOP NJ does.
And regardless of what camp you’re in, you probably don’t know what NAIOP is an acronym for (answer below).
That question no longer needs to be asked.
Tuesday night, at a premier event at the Park in Berkeley Heights, NAIOP NJ officially rebranded as CREDA NJ, or the Commercial Real Estate Development Association, New Jersey.
Though the name has changed, officials say the core mission of CREDA NJ remains the same: to elevate the state’s commercial real estate development industry by providing advocacy, education, research and connections to foster business opportunities.
CREDA NJ CEO Dan Kennedy said the organization and its members continue to share a commitment to supporting the development of vibrant spaces that create an enduring, positive impact on communities throughout New Jersey.
Kennedy also said the time had come for a name change.
“The commercial real estate industry has transformed considerably since our New Jersey chapter was formed over 55 years ago,” he said. “Simply put, we outgrew our old name.
“The ‘Commercial Real Estate Development Association’ clearly states where our values lie and the depth of asset classes we represent. This new name reflects how far our members have grown beyond the words that once defined us and better represents the expanded scope of the CRE industry’s work today.”
To be sure, CREDA sounds a bit like CRDA, or the Casino Reinvestment Development Authority, that the state created in 1984 to direct casino reinvestment dollars into economic and community development projects, land-use planning, and Tourism District operations.
But note, CREDA NJ is a part of a national organization with chapters across the country. CRDA only exists in New Jersey.
CREDA officials feel the work they do will help them quickly distinguish between the two.
CREDA NJ President Matt Schlindwein of Greek Real Estate Partners summed it up this way.
“New Jersey’s commercial real estate industry represents some of the most complex, impactful development happening anywhere in the country,” he said. “CREDA NJ gives our chapter a name that matches that reality. This rebrand strengthens our voice with legislators and policymakers and makes clear to anyone outside the industry exactly who we are and what we stand for.”
CREDA NJ officials say the chapter will continue advocating for the industry’s interests in Trenton, giving members optimism for what’s ahead.
Officials said the shift to CREDA NJ also reflects a push towards building an association to support the future of the commercial real estate industry.
Through the advancement of adaptive reuse, data centers, life sciences, mixed-use, and the increased role of artificial intelligence, the chapter is positioned to attract the next generation of developers, owners and professionals who will define what commercial real estate looks like for years to come.
CREDA NJ will continue to serve the state in the same way NAIOP NJ did, as a highly respected industry resource representing and advocating for more than 850 commercial real estate developers, owners, investors and other professionals.
Only now, it no longer will have to explain what NAIOP stands for.
For the record, NAIOP, founded in 1967, stands for the National Association of Industrial and Office Parks.
