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Layoff shivers hardly caused a quiver in NJ commercial market. (New Jersey)(Commercial Real Estate)
Crain's New York Business, April, 1996 by Gross, Daniel
Small, midsize deals fuel recovery When AT&T announced last year that it would split into three companies and lay off thousands of workers, alarms rang in many New Jersey residential real estate markets. There was widespread concern that many of the New Jersey workers to be laid off by Ma Bell would place their homes on the market and depress prices.
But AT&T Corp.'s announcement barely caused a ripple of concern in the state's unusually tight commercial real estate market. "If they move out of some of those buildings, it wouldn't hurt us. We could use some of that space," says Seena Stein, president of Newmark & Co. Real Estate's New Jersey unit, based in Mountainside. Activity is first-class After several rough years, real estate brokers in northern and...
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