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CBRE experts weigh in on current state of the market.


On Thursday, November 9, CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2.  (CBRE CBRE CB Richard Ellis (real-estate firm)
CBRE Chemical, Biological, Radiological and Explosive
CBRE Component-Based Reliability Estimation
CBRE Coldwell Banker Richard Ellis (Boston, MA) 
) hosted its sixth annual New Jersey Real Estate Market Forecast at the Pleasantdale Chateau.

The forecast provided an overview of current economic and commercial real estate market conditions in the region and state and offered projections for 2007.

Nearly 400 professionals were in attendance, including prominent CEOs, CFOs, and corporate real estate directors of many of New Jersey's leading corporations as well as major institutional investors and owners.

Michael Lewis Michael Lewis or Mick Lewis may refer to:
  • Michael Lewis (singer-songwriter), a recording artist
  • Michael Lewis (author), a non-fiction author
  • Mick Lewis, an Australian cricketer
  • Michael Lewis (model), Israeli basketball player, actor and fashion model
, best-selling author of 'Moneyball,' 'Liar's Poker,' and 'The Blind Side: Evolution of a Game' presented as the keynote speaker.

In addition, a panel of CB Richard Ellis executives discussed recent commercial real estate conditions occurring in the marketplace.

The panel included Stephen Siegel, chairman of global brokerage, who served as moderator; Patrick Murphy
  • Patrick Murphy (politician), United States politician, first Iraq War Veteran elected to the United States Congress, elected in 2006.
  • Patrick Murphy (giant) (born 1834), a famed Irish giant
  • Patrick Murphy (independent)
  • Patrick Murray (theologian)
, executive managing director of the New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 Tri-State Suburban Markets; Raymond Sohmer, senior managing director; Thomas Tucci, senior managing director of CB Richard Ellis' New York Tri-State Industrial Group; Mindy Lissner, senior vice president; and Jeffrey Dunne, vice chairman and leader of CB Richard Ellis' New York Tri-State Investment Team.

Craig Thomas Craig Thomas is a name shared by the following individuals:
  • Craig L. Thomas (1933-2007), American politician who represented Wyoming in the United States Senate from 1995 to 2007
, senior vice president and director of research of Torto Wheaton Research, also gave a presentation on the overall economic outlook for New Jersey. Stacy Wallach, senior managing director, presided over the event.

CB Richard Ellis' panel of experts discussed the overall macroeconomic mac·ro·ec·o·nom·ics  
n. (used with a sing. verb)
The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors.
 and real estate trends in the state, covering the office, retail and industrial markets. Many panelists on the CB Richard Ellis panel predicted that as affordable available Midtown mid·town  
n.
A central portion of a city, between uptown and downtown.


midtown
Noun

US & Canad the centre of a town
 Manhattan office space disappears, New Jersey will benefit due to its competitive pricing, excellent infrastructure and educated labor force.

"The New Jersey Real Estate Market Forecast has become an important industry event that gathers the region's top real estate and corporate professionals," stated Sohmer. "We are honored to have such a highly esteemed collection of business leaders attend this annual event. At CB Richard Ellis, our goal is to strategically advise our clients on navigating through challenging economic and real estate cycles. Our market forecast event is just one of the many important ways we keep CB Richard Ellis clients abreast of rapidly changing market conditions."
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Title Annotation:NEW JERSEY
Publication:Real Estate Weekly
Date:Dec 20, 2006
Words:359
Previous Article:Changes in brokering and marketing in 2006.(INSIDERS OUTLOOK)
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