NJ: Real Estate and Development
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Real Estate - NJEDA Real Estate and Development The NJEDA plays an important role in implementing major real estate development projects for established companies and governmental or not-for-profit organizations throughout New Jersey. In fact, since 1979, we’ve developed over 10 million square feet of new and renovated space valued at more than $1.5 billion. So if you’re a company needing facilities for research, manufacturing, or distribution; a developer of a project in one of these three sectors, or any commercial project in an urban location; or a public or not-for-profit entity requiring new or renovated facilities, the NJEDA can help turn your plans into reality. New Jersey has always been one of the premier research areas in the United States and is home to many of the world’s largest pharmaceutical companies. The NJEDA has developed and continues to implement special economic development initiatives in urban aid municipalities and targeted industries, including technology and life sciences. And, in an effort to stimulate the expansion of these industries, New Jersey has created three Innovation Zones or “technology neighborhoods” where academic and research institutions can work with companies to develop and market new products or services while enjoying certain financial incentives and other benefits. The NJEDA’s goal is to anchor each of the zones with a state-of-the-art technology center, offering companies opportunities to lease office, wet and dry laboratory and production space at attractive rents. With our full array of tools, ranging from site solutions to project financing and full-service real estate development, we can help implement real estate projects that advance the State’s economic development objectives. The NJEDA’s goal isn’t to compete with private developers. Instead, we look for opportunities to collaborate with the private sector and to trail-blaze locations and sectors in need of private investment. Services & capabilities Stranded assets repositioning investmentS As economic and work trends have evolved in recent years, supporting viable commercial and mixed-use development is essential to creating sustainable and equitable growth. Through the creation of a $25 million Stranded Assets Repositioning Investment, the NJEDA adds to its suite of resources and allows NJEDA to directly invest in long vacant or abandoned properties such as malls, office buildings, and corporate campuses, turning them into vibrant community assets. LEARN MORE NJ State Office Building Projects In partnership with the New Jersey Department of the Treasury and Division of Property Management and Construction (DPMC), the New Jersey Economic Development Authority (NJEDA) has constructed two new buildings in downtown Trenton, for the Division of Taxation and the Department of Health. The new Department of Health Building is at 55 Willow Street, between West Hanover St. and Capitol St. The new Taxation Building is at 3 John Fitch Way, just in