NJ’s Real Estate Practice, Demands on Lawyers Evolve with Business

This NJBIZ article discusses the evolving commercial real estate market and demands on real estate lawyers in New Jersey as the market adapts to economic changes, tenant needs, and technological advancements.

Mark Levenson, Chair of the Sills Cummis Real Estate Department, shares his insights on the current state and outlook of the commercial real estate market. He notes that economic activity and transactions are increasing as the market recovers from COVID-19 and potential recession threats. Levenson is optimistic about a gradual upward trend in real estate transactions. Other topics covered include the hybrid work model, which for many companies means they are seeking downsized, more flexible workspaces; repurposing and reimagining retail properties; industrial and warehouse demand; sustainable building; in-person closings; and the increasing use of technology in real estate deals, among others.