The Star Ledger / nj.com
The market has collapsed for the type of massive office park that zoning would allow to be built in the area, but there is demand for up to 1,500 units of housing and 200,000 square feet of retail space in the area, the report said. “We found a significant shortage of available retail space here in this local market area, meaning that households need to drive farther than is the case in most places to be able to get access to retail outlets,” Jeffrey Otteau, president of Otteau Valuation, has said.
