Amid Uncertainty, Industry Leaders Maintain Optimistic Outlook
WOODBRIDGE, N.J. (April 16, 2025) – NAIOP New Jersey’s latest program, Chaos Economy: Tariffs & Capital Markets Impact on CRE in New Jersey, couldn’t have come at a better time. As commercial real estate professionals deal with economic uncertainty amidst changing policies, this thoughtful and healthy discussion on the impact of tariffs offered valuable knowledge and strategies to navigate this ever-changing market.
“With so much at stake for the commercial real estate industry, our members needed this important conversation on tariffs and capital markets,” said NAIOP NJ CEO Dan Kennedy. “One of NAIOP’s core values is advocacy, and education is at the root of that principle. This event was informative and educational for our members, who are now better equipped to handle any challenges that present themselves moving forward.”
The sold-out dinner program, which took place at Delta Hotel Woodbridge, began with a Fireside Chat moderated by Monica Casiello of U.S. Title Solutions. She was joined by speaker Thomas Prusa, Professor of Economics at Rutgers University New Brunswick. With the current temporary pause on most tariff hikes, Prusa expressed optimism over the reduced chance of a recession, though he stated worry over losing access to international markets, other countries and more expensive materials coming from Canada. That, he said, would be a blow to the CRE industry.
Following the Fireside Chat, NAIOP NJ President Matt Schlindwein, Greek Development, moderated a panel discussion on capital markets. Panelists included Jeremy Neuer of JLL Capital Markets, Seth Zuidema of Cushman & Wakefield and Matthew Burrows of Kushner. The panel covered a wide array of topics including pullbacks from lenders, trends with speculative development and the instability of the market. Zuidema also explained that New Jersey is thriving in the industrial space across all property types, while Neuer discussed how investors are paying attention to the growth of office with more people returning to in-person work.
PHOTO CAPTION: (L-R) Matt Schlindwein, Matthew Burrows, Seth Zuidema, Jeremy Neuer
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