Because of COVID-19, for many of us the office is still our kitchen table. Even for those who have gone back to the office, it may not be five days a week. So what is happening with New Jersey’s commercial real estate market? Like the workplace itself, it’s undergoing a transformation.
Peter Sudler, chairman and CEO of The Sudler Companies, a private real estate development company, says they have demolished virtually every office building they own to turn into industrial warehouse distribution centers. “I think the future for office space is somewhat dim… That’s not to say there won’t be an office market. There will be, but it’s going to be a different one,” said Sudler.
