NJ’s Aging Office Buildings - FOX 35 News Orlando

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>>

  • WWOR's "Chasing New Jersey" Gets State Recognition

    WWOR's "Chasing New Jersey" Gets State Recognition

    Thursday, April 17 2014 3:53 PM EDT2014-04-17 19:53:15 GMT
    Chasing New JerseyChasing New Jersey
    New Jersey’s General Assembly honored WWOR’s Chasing New Jersey on the occasion of its 200th episode, which aired April 11, 2014, TV News Check reported.
    New Jersey’s General Assembly honored WWOR’s Chasing New Jersey on the occasion of its 200th episode, which aired April 11, 2014, TV News Check reported.
  • Radioactive Material Found Inside Sparta, NJ Home

    Radioactive Material Found Inside Sparta, NJ Home

    Thursday, April 17 2014 11:12 AM EDT2014-04-17 15:12:23 GMT
    Law enforcement officials say they found radioactive material inside the Sparta, New Jersey home of Joseph Gibeau. Sergeant John Paul Beebe said that they knew this was radioactive material because the containers were painted yellow and displayed a “tri-foil” decal which is the international symbol for radioactive material.
    Law enforcement officials say they found radioactive material inside the Sparta, New Jersey home of Joseph Gibeau. Sergeant John Paul Beebe said that they knew this was radioactive material because the containers were painted yellow and displayed a “tri-foil” decal which is the international symbol for radioactive material.
  • New Jersey Roller Derby Workout

    New Jersey Roller Derby Workout

    Thursday, April 17 2014 11:10 AM EDT2014-04-17 15:10:05 GMT
    Calling all adrenaline junkies! New Jersey’s Roller Derby league may be just what you need if you’re looking for a new workout and aren’t afraid of getting knocked down at high speeds. Derby diva Barbi Gnecco discussed what the league is all about and how intense the game can get out on the rink.
    Calling all adrenaline junkies! New Jersey’s Roller Derby league may be just what you need if you’re looking for a new workout and aren’t afraid of getting knocked down at high speeds. Derby diva Barbi Gnecco discussed what the league is all about and how intense the game can get out on the rink.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

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