Smart Money Headed To Jersey City

(Jersey City)  For those in the know, the smart money is heading to Jersey City.  This doesn’t just include housing, but key industries are looking at areas once overlooked and blighted.

While everyone couldn’t help but notice JP Morgan Chase as they announced their bold strategic stakehold in Jersey City;  the recent move by datacenters to Jersey City is getting attention.

And Jersey is deadly serious about giving incentives for businesses to make the move.  Everyone ‘in the know’ is talking about C&I “Credits & Incentives” and how these can play into savvy investment strategies.  One firm was recently given millions to move.

While some criticize the deal, I was told that First Data was in a temporary space on a lower floor.  The ‘powers that be’ wanted First Data to make a long term commitment, so they gave them a deal that was too good to pass up. Sweet deal for First Data! I would have done it too.

Jersey City’s government is also making moves to foster growth in other areas besides the waterfront.  JC’s City Hall Annex to be located on Martin Luther King Drive will bring new life to the area. While some are critical of the deal basically saying “….why rent when you can own?”;  others say this deal will have a direct and bold impact on economic development in the area.  Based on my experience in finance and banking, looks a lot like a CTF type deal to me.

In my next post, I’ll discuss 1031 exchanges, and how to take advantage of the opportunities in Jersey City while they last.

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Jersey City Daycare Property For Sale

(JERSEY CITY)  I downloaded a list of New Jersey actively licensed day care centers from the state’s website yesterday after hearing about a story in the news. I was curious because my father once operated a very successful children’s daycare center at the property he is now selling located at 46 – 48 Martin Luther King Dr.

Nursery Room 46 MLK Drive

Nursery Room at 46 Martin Luther King Drive – Jersey City, NJ

A couple of times he has decided to retire, and has bent over backwards to help new entrepreneurs get into business.  Suffice it to say, getting into business is a lot different than staying in business.

There is a certain dynamic to successfully operating a business that the community will support in Jersey City.  Childcare is certainly one of those businesses that can be profitable, but they must have strong management.  The consumer need is definitely there.

Childrens Classroom Area 3 at 46 MLK Drive HUBZONE

Children’s Classroom Area 3

If you look at the census data, and compare this to available child care daycare centers in the area; on the surface, there is a shortage of daycare centers.  When you reduce the list to childcare centers that actually have a good reputation the list gets shorter.  Not all daycare are created equal.

Even if you have a nice facility, and strong management, you can still be handicapped by hiring the wrong people.  Based on my experience, you can put yourself ‘out of business’ by putting the wrong people on your payroll. Hiring people just because you know them?  Start counting the days until closure.

Classroom 2 - 46 MLK Drive

Children’s Classroom Area 2

The employees often don’t realize that ‘WASTE IS NOT YOUR FRIEND’.  Every dollar wasted is a dollar that won’t be available to pay expenses of the business, or be available for growth opportunity to take the business to new levels of profitability.

Take our building at 46 Martin Luther King Dr, which is for sale at the moment.  It was a licensed child daycare facility. So why is it closed today?  Retirement.  This retirement was expedited because, the older you get, sometimes you just get tired of telling people over and over to do the same things that they should be doing anyway. And when you hire, friends, family, and friends of family – a lot of baggage comes along the way.

In response to the needs of the community, honestly, I’ve been thinking about re-opening the children’s daycare center at 46 Martin Luther King Dr.  If nothing else, it would let me return to something I miss and really enjoyed.  Nearly every morning, my father and I would meet early in the morning, and have coffee.  We talk about everything. We’d debate. Strategize, consider new ideas, address challenges, solve problems, etc. I didn’t always agree with my father on everything. But we’d agreed on most things (90%).

My father is a lot more nicer in business than I am. He tends to want to give people chances, and tolerates a lot.  I look at things from a more analytical, number perspective.  Often, he reasoning, and unique way of approaching things astonishes me!

Children's Classroom Area 1 - 46 Martin Luther King Drive

Childrens’s Classroom Area 1

If I were to re-open the daycare center, I would do things a lot differently.  People have come to us and asked us to re-open the children’s daycare center. I even taken a survey and asked a sampling of community residents what they feel would make a good daycare in TODAYS present market.  Their feedback was amazing.

Kitchen - 46 MLK Dr

Children’s Daycare Kitchen at 46 Martin Luther King Dr Property Currently For Sale

As you can see from the photos, our facility is very, very clean, and well maintained. Our community appreciates the way the facility is always kept very clean, and in excellent condition.

Bathroom Boys - 46 MLK Dr

Bathroom for Boys at Daycare 46 Martin Luther King Drive

Although the market demographics are changing, this facility is well positioned to serve all families in the community.

When we operated the facility, we were licensed and approved for over 100+ kids.

Girls Bathroom - Daycare - 46 MLK Drive, Jersey City NJ

Girls Daycare Bathroom at 46 MLK Drive For Sale

Truthfully, I’m considering re-opening the facility if it doesn’t sell.  It’s a great opportunity for someone with fleet feet, who can act and move quickly. At least I have a few months to make up my mind. That gives me more than enough time to talk more with parents in the area, and consider some new technology integration, that could improve the quality of service.

It would also give me more time with my father, and we could return to our regular morning coffees together.

Security Office - 46 MLK Drive HUBZone

Security Office – Surveillance Room

If you’re thinking about purchasing a child daycare facility, I would urge you to consider our building at 46 – 48 Martin Luther King Drive.  It’s for sale.  But, we might change our minds. We’d be more than happy to work with you and share our contacts, our experience, and network with you.  This is a HUGE VALUE ADD and could save you years of headache and put you on the fast track to prosperity. If you’re interesting in talking about this, use the form below, and we’ll get back to you shortly. Have a great day.

Mayor Fulop Greets Nancy Pelosi at Job Training Center

All Eyes On Me! Jersey City In Spotlight For Jobs Training

ALL HANDS ON DECK AS JERSEY CITY JOB TRAINING TAKES CENTER STAGE

(Jersey City, NJ)  Nationally known strategic partners from BOTH political parties were on hand to support Jersey City Mayor Steve Fulop’s concentrated focus on job training, reducing crime, and business development.

Mayor Fulop Greets Nancy Pelosi at Job Training Center

Mayor Steve Fulop Greets House Minority Leader Nancy Pelosi at the Martin’s Place Training Center Grand Opening

Mayor Fulop is demonstrating his unique ability as a ‘consolidator’ by bringing everyone together to focus on the number one issue I believe facing the revival of one of Jersey City’s communities – JOBS!  At center stage is reducing crime, and helping people successfully re-enter society and becoming productive members of the community.

Rep Nancy Pelosi greets crowd at Job Training Center in Jersey City

Rep. Nancy Pelosi Addresses the Community at Grand Opening of Martin’s Place Job Training Center in Jersey City

Showing strong support for Mayor Fulop’s initiative were Sen. Bob Menendez (D), former Gov. Brendan Byrne (D), former Gov Jim McGreevey (D), Gov. Chris Christie (R) and former Gov. Thomas Kean (R).  You can read more about this event HERE.

Gov McGreevey at Job Training Center

Former Gov Jim McGreevey at Grand Opening of Martin’s Place Job Training Center

There can be no doubt that there will be a renewed focus on job training and related services.  The MLK corridor is an excellent location to relocate your existing community based organization.

The property at 46 – 48 Martin Luther King Drive is ideally suited as a strategic community center and can serve as your headquarters are service delivery location. A number of grants, and contracting opportunities are available to assist the new property owners serve the community.

If you’d like to work with someone who has job training and contracting experience, feel free to use the tool below and someone will get back to you.

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Dairy Queen Jackson Ave Hotspot

Greenville, Greenville! Oh How I Remember Thee…

(JERSEY CITY, NJ) In the 1970’s I remember a time when Jersey City was a great place for me.  I remember all the action, the stores, the shoppers, the girls, seeing friends, hanging out, playing music, chess, telling jokes – it was off the hook!

My brother Ernie and I loved to see my dad and looked forward to spending our summers with him.  We had a secret advantage – DAIRY QUEEN!

Dairy Queen Jackson Ave Hotspot

Dairy Queen Was A Favorite ‘End of the Strip’ Hot Spot

Jackson Avenue (now Martin Luther King Drive) was a Hot Spot for commerce back then.  Everybody went on the ‘Ave’ and you could get anything, and see anybody.  I remember my brother and I couldn’t wait to get to our father’s house on Wade Street, where we would spend the summers.  Our first stop was to get fresh, and then go post up near the DQ.

All the girls back then would walk up and down Jackson Avenue, and the DQ was where they would walk as a destination to get some ice cream. Me and my brother Ernie were waiting.

If you you had a couple of bucks, you were guaranteed to be able to treat a pretty girl to an ice cream cone (if you wanted to).

Nowadays, the DQ is gone (sadly), and there is a Fried Chicken business there that also sells pizza.  The new owner, I don’t think realizes the history of the place, and how important a role that place one played in the grand scheme of things.

Greenville is not as bad as people think. While crime is present, this is not surprising for an area with youth under 25 without a high school education nearing 30%. If you didn’t choose to go to school, you had to learn a trade. Sadly, the older guys who used to teach us trades, are gone now.  Only a few remain, my father being one of them. I’ve never seen a man who owns nearly every tool you can think of, who knows exactly how to use it, AND wants to teach anyone who has the patience and commitment to learn.

My brother and I (being teenagers then) loved to work with my dad during the day, make a few bucks, then get cleaned up, and hang out to go meet girls. We were dressed sharp back then. You had to be, to get noticed.

I got tired of hearing all the brow beating, and people putting down Jersey City, so I decided to use my skills at data mining so see what’s really going on.  Jersey City is still filled with opportunity. And the girls are still there, far outnumbering males, just as they did way back then. But don’t take my word for it.

If you’ve got a few minutes, you can check out the statistical data on the composition of the Greenville neighborhood on City Data HERE. ENJOY!

Some say Jackson Avenue will never be the way it was.  My father thinks that this time around, it will be Ocean Ave, instead.  We’ll see.  But with a one bedroom apartment easily available for $700-900 and being within 30 minutes commute of NYC, it’s sure got me thinking about Jersey City, it’s future, my future, and how I can play a part in this while I still have a chance.  Dad always was light years ahead of his time.

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46 MLK Retail Property in Jersey City

46 – 8 Martin Luther King Dr HUBZone

INTERESTED in this HUBZone Property? Fill in the quick contact below and we’ll send you updated information about 46-8 Martin Luther King Drive….

This commercial investment property is an excellent investment opportunity and would be ideal for a Daycare Center, Grocery Store, Urgent Health Care facility, Church, Mixed Use Retail/Office, or as a satellite office for a business competing for government contracts or grants.

This Two (2) Story Building was recently upgraded, and has over 7,500 square feet of usable multi-purpose space with 6,000 feet on the ground floor, and 1,500 square feet on the second floor.

On the First Floor, the property is presently being leased to a day care operator. Here are some high quality photos of it’s present use (C) David Hoffman. All Rights Reserved.

46 MLK

Front View of 46 Martin Luther King Drive

Security Office - 46 MLK Drive HUBZone

Security Office – Surveillance Room

Office Area 2 at 46 MLK Drive NJ Hubzone

Office Area 2

Ofc Area 1 - 46 MLK Dr

Office Area 1 – 46 Martin Luther King Drive

Floors - 46 MLK Drive

Floors at 46 Martin Luther King Drive

46 MLK Dr Jersey City

46 – 48 Martin Luther King Dr, Jersey City, NJ 70305

 

Getting Qualified For Hub Zone Status – What You Need To Know

(WASHINGTON, DC)  Getting your business ‘qualified’ to become a ‘Hub Zone’ business is determined by your business location.  If you are not presently located in a ‘qualified’ hub zone area, you can obtain Hub Zone Designation by moving to a location that is within a qualified area.  If that is not possible, then you can rent, or purchase commercial space inside a qualified area.

The Historically Underutilized Business Zone (HUBZone) Program provides federal contracting opportunities for small business concerns located in economically distressed communities in order to increase employment opportunities, stimulate capital investments in those areas, and empower communities through economic leveraging. HUBZone areas are determined by various census data. To qualify as a HUBZone, a business must meet the following criteria:

  • It must be a small business by SBA size standards;
  • Its principal office must be located within a HUBZone, which includes lands on federally recognized Indian reservations;
  • It must be owned and controlled by one or more U.S. citizens. Approved ownership can also be by a Community Development Corporation or Indian tribe; and
  • At least 35% of its employees must reside in a HUBZone.

The SBA must certify small businesses that want to claim HUBZone status. HUBZone businesses are eligible to receive sole-source or set-aside contracts, or receive a price preference up to 10% when competing for full and open competition procurements.

Now, you might not think this amounts to much.  But, consider that just a 3% contracting set-aside, or sole source contract that you would be entitled to if you are located in a qualified HUBZone, and the contract awards would more that pay for any investment you make in purchasing, renting, or hiring workers located in a HUBZone area.

The first step is to enter your address (or proposed business address in the HERE.

Your map results will look like the one featured here below for a premiere property located at 46 – 48 Martin Luther King Drive, Jersey City, NJ 07305.

46 MLK Drive

Example of Recent Search to Qualify An Address as HUBZone Qualified.