Real Estate NJ: 2020 Market Forecast
Francis J. Giantomasi was featured in Real Estate NJ's 2020 Market Forecast sharing his prediction for the State's real estate sector for the year to come.
According to Frank, "2020 should see a continued strong trajectory for New Jersey’s real estate sector. In my view, the state’s secret weapons will, once again, be predicated upon its geographic nexus to New York. If the governor’s incentive program passes, there should be increased demand for, among other projects, entertainment studio space and tech hubs.
With the momentum and popularity carried by streaming and digital media platforms, there is a thirst for original content that cannot be serviced by existing studios on either side of the river. Considering our advantageous rent structure and robust transportation located in Newark, Kearny and Jersey City, New Jersey makes economic sense and provides easy in-and-out access for New York City’s talent pool.
An influx of studio development will also propel the need for more workforce housing because camera operators, gaffers, actors and others who operate during quirky hours will want to live and play near their place of employment. As such, I would expect to see the residential and retail markets receive ancillary benefit."
To read the full article, please visit Real Estate NJ's website.