We all know that Traditional brick and mortar retail centers have faced their challenges in light of online shopping. Even the most successful and upscale shopping centers have based the need for some change. New jerseys local redevelopment and housing law has been amended to reflect these needs for change. Retail centers that are subject to substantial vacancies are now eligible for redevelopment designation, even where the properties are meticulously maintained, such was the case in Pompton Lakes. Mr. Semeraro was able to secure redevelopment status for a meticulously maintained property that fell prey to some vacancies that were caused by a national supermarkets departure. Further redevelopment process end long term tax exemption laws, Mr. Semeraro secured a change in use to include self storage end enable his client 2 secure a new Aldi’s grocery store, Which was desperately desired by the community.
“It always feels good, when you are able to provide a community with something it needs”, said Semeraro.
If you are a commercial property owner facing challenges and the need to redevelop or change use of your property, please contact Mark Semeraro at 973-775-2290.
