■ Predictions for 2023
Continued From Page 20 manufacturers , GE / ABB , Eaton / Cutler Hammer , Siemens and Schneider / Square D , are all affected . The supply chain issues coupled with huge demand and labor shortages will cause lead times in excess of one year after receipt of order .
ZaGO Manufacturing Co . Inc . Gail Friedberg Rottenstrich CEO
At ZAGO , we see collaborating with our stakeholders to develop systems , equipment and technology that reduce our carbon footprint and promote climate resilience as critical . Our sustainable , reusable and corrosion-resistant sealing fasteners have always played an important role in protecting green energy equipment and our environment from damaging contaminants . We will continue to spread this message .
MOVING & STORAGE
Ridgewood Moving Services Cindy Myer President
Interest rates hikes are affecting the real estate market and causing a slow-down in our industry , after two previous boom years . But I believe the ability to work remotely will drive mobility across the country . Technology advances will make moving more transparent for consumers , as well as federal efforts to protect consumers . Electric moving trucks / trailers will be prevalent soon also , along with other creative ways to move people ’ s lives .
Supply-chain remains an obstacle to overcome to manufacturers .
Photo : Getty Images / iStockphoto / bfk92
PURVEYORS
Schweid & Sons Jamie Schweid President and CEO
Consumers continue to connect with brands that are leaning into sustainability and the beef industry is now embracing the concept with farmers introducing regenerative farming and other carbon-reducing practices . In 2023 , Schweid & Sons will be announcing some exciting initiatives that align with these earth-friendly principles – stay tuned !
REAL ESTATE
Alfred Sanzari Enterprises Ryan Sanzari President
The reality of a hybrid work environment paired with continued economic turbulence makes it even more important that office building owners prioritize creating workspaces that provide an unparalleled employee experience through thoughtful and creative capital improvements and superior property management .
Diversified Properties Nick Minoia Managing Partner
As we enter what appears to be a recessionary period , there will be short-term difficulties , but I expect that new prospects for real estate investment will emerge throughout the year as a result . For creative and experienced investors / developers , there will be ample opportunities to aggressively deploy capital and leverage the rapidly changing market conditions .
Levin Management Corporation Matthew K . Harding CEO
Anyone driving by or visiting open-air shopping centers along New Jersey ’ s densely developed retail corridors will see fewer vacant storefronts and an array of new brands side-by-side with established favorites . And while the retail industry faces some challenges ( think inflation and labor shortages ), brands that effectively respond to shifting consumer priorities and
Laboratory buildings are among the most sought after .
expectations will benefit from this continued post-pandemic resurgence .
NAI Fennelly Jerry Fennelly , SIOR President
The big unknown in commercial real estate continues to be the fate of the office . Across the next year , I expect the market to see further bifurcation as Class-A trophy assets see sustained leasing demand while many Class-B and C as well as lower-quality Class-A office buildings are taken off the market through either demolition or adaptive reuse .
NAI James E . Hanson William C . Hanson , SIOR , President
In 2023 , the combination of economic uncertainty and continued rate increases will have a modest impact across the commercial real estate industry causing slowdowns in some asset classes . However , those with a strategic vision who have anticipated changes and prepared accordingly will be well-positioned to find opportunities , while others will be forced to stay patient and wait out the turbulence .
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