October 23, 2014
Industry Thought Leaders Discuss the Princeton Commercial Real Estate Market
This morning’s MIDJersey Chamber Breakfast Forum had a great turnout, despite the cold rainy start to the day.
Attendees sipped coffee and snacked on pastries as Jerry Fennelly (NAI Fennelly), Sab Russo (Mercer Oak Realty) and David Lodato (Credit Union of New Jersey) took turns speaking about various important aspects of the current Princeton Commercial Real Estate Market. The gentlemen fielded questions from the audience after all three presentations had been given.
Sab Russo covered drivers of the market- what we’ve seen in the past during upturns and down swings, and distilled that information to help us understand what markers may present themselves to help us anticipate the next down swing. He also spoke about some changes that have been seen recently in regards to how companies are actually using their space, and how their needs have changed.
“No one can predict the future, but what we can do is study what has happened in the past, understand why it happened and use that new knowledge to help guide our clients and ourselves to more informed decisions for tomorrow.” explained Sab. “We’ve been tracking market statistics and trends since the mid 80’s- you shouldn’t live in the past, but it’s quite helpful to visit from time to time.”
Jerry Fennelly spoke at length about detailed market transactions and possible future trends in the commercial real estate market. David Lodato spent time sharing what the Credit Union has seen happening with their clients and also touched on Crowdsourcing, and how some new laws may change the game.
Mercer Oak Realty would like to extend a big thank you to the MIDJersey Chamber of Commerce for inviting us to be a part of this great event- as well as the Credit Union of NJ & V.J. Scozzari & Sons, for sponsoring and helping to organize the breakfast.
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