NJ’s Aging Office Buildings - My9 New Jersey

NJ’s Aging Office Buildings

Posted: Updated:
Bridgewater, New Jersey (My9NJ) - Between 1980 and 1990, 80% of New Jersey’s office buildings were constructed. Now, due to changes in the labor force, outsourcing and the ability to telecommute, many of these structures are now obsolete.

While some if these buildings become abandoned or are simply torn down, there are those that are being repositioned into town centers.

For example, a 1.2 million square foot facility in Bridgewater that was previously owned and operated by Sanofi, is getting a makeover. Today, it is owned in partnership with Advance Realty and CrossHarbor. The President and CEO of Advance Realty, Peter Cocoziello discussed the current layout of the facility and why a space like this might not work in today’s day and age.

“Most of the corporations today, they are looking to be a little bit more nimble, they are consolidating, technology allows them to consolidate, so you’re seeing all of those factors weigh in here,” Cocoziello said.

Gil Medina, the Executive Vice President of CBRE the world’s largest commercial real estate services firm, discussed the ability to reposition a complex like this. “What we’re finding is that these assets can be repositioned very successfully,” he said.

This particular facility will eventually be transformed into housing units, retail, a hotel, restaurants and more.

Dr. James Hughes, the Dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University weighed in on how modern age advancements have played a huge role in the way that people work. "Information technology has dramatically improved and productivity has dramatically improved. Jobs were eliminated by information technology or outsourced," he said.


Watch Chasing New Jersey weeknights at 10pm on My9 and don’t forget to like us on Facebook!

  • Chasing New JerseyMore>>

  • Annual Walk To Washington Event Kicks Off

    Annual Walk To Washington Event Kicks Off

    Wednesday, April 23 2014 6:47 PM EDT2014-04-23 22:47:18 GMT
    Every year the New Jersey Chamber of Commerce sponsors a train heading to Washington D.C. full of lobbyists and politicians. This year marks the 77th annual New Jersey Walk to Washington event where people board a train and use that trip to walk around the aisles and network with some of the Garden State’s top political and business leaders. Governor Christie has even said in the past that the year does not begin until the Chamber dinner in Washington.
    Every year the New Jersey Chamber of Commerce sponsors a train heading to Washington D.C. full of lobbyists and politicians. This year marks the 77th annual New Jersey Walk to Washington event where people board a train and use that trip to walk around the aisles and network with some of the Garden State’s top political and business leaders. Governor Christie has even said in the past that the year does not begin until the Chamber dinner in Washington.
  • Rowan University Students Bringing Awareness To Sexual Assault

    Rowan University Students Bringing Awareness To Sexual Assault

    Wednesday, April 23 2014 3:33 PM EDT2014-04-23 19:33:42 GMT
    Students at Rowan University are leading the charge against sexual abuse on college campuses by joining the national campaign PACT5. These New Jersey students have created documentaries that can be used a teaching tools to help spread awareness to others. During the process of this campaign students at Rowan University learned that two of their fellow pupils were victims of rape themselves.
    Students at Rowan University are leading the charge against sexual abuse on college campuses by joining the national campaign PACT5. These New Jersey students have created documentaries that can be used a teaching tools to help spread awareness to others. During the process of this campaign students at Rowan University learned that two of their fellow pupils were victims of rape themselves.
  • Sharpe James Talks Politics In Newark

    Sharpe James Talks Politics In Newark

    Wednesday, April 23 2014 11:07 AM EDT2014-04-23 15:07:42 GMT
    The race in Newark to replace now Senator Cory Booker is getting publicity for all the wrong reasons. Some are choking it up to dirty politics with campaign buses being torched, offices being broken into and inappropriate fliers circulating around town encouraging people to “vote black”, even though both candidates are African American. With many people questioning what is going on in Newark, former Mayor Sharpe James chimed in to discuss the city’s current political landscape.
    The race in Newark to replace now Senator Cory Booker is getting publicity for all the wrong reasons. Some are choking it up to dirty politics with campaign buses being torched, offices being broken into and inappropriate fliers circulating around town encouraging people to “vote black”, even though both candidates are African American. With many people questioning what is going on in Newark, former Mayor Sharpe James chimed in to discuss the city’s current political landscape.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices