With many types of commercial real estate still reeling from the downturn, New Jersey faces a tidal wave of property tax appeals from thousands of weary, often cash-strapped building owners across the state. And it’s only likely to get worse. Frank Ferruggia, a McCarter & English attorney who specializes in property tax appeals, said the market for properties such as office buildings has not recovered to pre-recession levels — and expenses are rising as rental and occupancy rates remain stagnant.
3.24.2014