Washington Park Office Market – reason for hope?

NJBIZ.com has an article today discussing the office market at Washington Park

Link to full article

“We’ve all had a setback, based on the economy,” he said. But “I’m optimistic over the next 12 to 18 months, we’re going to see major signals moving us in the right direction.”

The one thing that this article doesn’t touch on is the impact that the Urban Transit Hub Tax Credit has and will have on this market.  At the current $75mm level the impact is minimal as the investment level is prohibitive, however the proposed lowering of this threshold to $50mm makes many of the buildings in this area very attractive properties.

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