New commercial real estate projects have slowed in NJ

And earlier this year a new warehouse opened on the Marcal property in Elmwood Park, just off Route 80. Thank interest rates, which the Federal Reserve hiked 11 times between 2022 and 2023 in a bid to tame inflation, which had risen to a 40- year-high in 2022. "That's going to impact construction lending," said Jim McGuckin, New Jersey's regional manager in Saddle Brook…