JLL’s Tom Walsh Says Newark is Attracting Growth in all CRE Sectors; Exclusive Up-Close Interview

NEWARK, NJ -- Thomas Walsh is Vice-President of Capital Markets for JLL, a position he has held since 2011, and will be a featured speaker at CAPRE's Fifth Annual Newark CRE Summit next week. He will participate in the panel "Newarks Retail Evolution and Mixed Use Mania: Modern Consumer Demand, Impact of Amazon, and Redevelopment of Brick City." In anticipation of the event, we connected with Walsh to learn talk about what makes Newark tick and where it's headed next.  CAPRE: Thanks for chatting with us today Tom. Let’s talk about Newark. What kind of demand drivers are setting the pace in the CRE arena there? Walsh: The demand driver in Newark is actually Newark itself. For the first time in more than a generation, Newark is witnessing growth in all major CRE sectors including office, residential, retail, hospitality and industrial. You can’t point to one specific sector outperforming the other. The city of Newark is the only true CBD in the state of New Jersey and it’s experienced, far and away, the most progressively organic growth of any city in the state. Infrastructure, transportation and convenience are key in attracting companies and investors. CAPRE: What activity in Newark (or more broadly) is most exciting to you at this moment? Walsh: The activity being witnessed in the residential market is the most exciting to me at this moment. Less than informed onlookers will cite the need for major incentives or affordable subsidies in…