Spotlight On: Jason Pierson, President, Pierson Commercial Real Estate

Key points:

• Healthcare, food, and value retail are driving demand amid limited supply, higher rents, and cost uncertainty.

• Mixed-use projects across North Jersey are leasing successfully, reinforcing retail’s role in dense urban districts.

• High interest rates, environmental regulations, and elevated land costs are limiting new retail development.

January 2026 — In an interview with Invest:, Jason Pierson, president of Pierson Commercial Real Estate, discussed which industries have been most active in the real estate sector, the impact of mixed-use development, and how the current market conditions are impacting the industry. “Being client-centric and growing slow and steady has brought us much success, and we will continue to abide by that mantra,” he added.

Join us at caa’s upcoming leadership summits! These premier events bring together hundreds of public and private sector leaders to discuss the challenges and opportunities for businesses and investors. Find the next summit in a city near you!

Reflecting on the past year, what have been the most significant milestones or achievements for Pierson Commercial Real Estate?

There are many active retailers out there, whether that be medical, urgent care, dental, experiential, or the banking industry. There are many new acquisition opportunities for players with cash. There is a lack of good product and development of new shopping centers, which has led to increased competition among retailers. Rent has been stagnant for the last 15 years or so, but rents increased significantly during and post Covid. 

The food category has also been active, and many chains have entered the area. The larger retail stores, such as Ross and Burlington, have been extremely active in taking over spaces. We are still waiting to see what impact the tariffs will have, whether they end up being a long- or short-term issue or become a non-issue based on proposed government negotiations. 

What is the impact of mixed-use developments on the retail real estate sector in the region?​

Jersey City, Newark, New Brunswick, Hoboken, and the Gold Coast have all seen lots of action in terms of mixed-use development, and retail is a big part of that. A big part of our own business is mixed-use developments, and they are all leasing up, with local, regional, and national retailers and all types of different uses. 

What new and emerging markets are in New Jersey, and how are these growth areas influencing retail space allocation and demand?

Chicken concepts, such as Dave’s Hot Chicken and Raising Cane’s, have been active. Cafes and car washes have also continued to be active. The banking sector has slowed down quite a bit as they are focused more on consolidation, dispositions and relocations. 

What regulatory challenges or opportunities are affecting retail real estate development and transactions in New Jersey?

New environmental regulation regarding development in flood zones have impacted the costs and/or ability to develop new opportunities. Also, the lack of inventory and high interest rates have had a big impact on the industry. Retailers are also concerned about the current economic situation. The cost of labor, construction, and land prices have all played a key role in this issue. Land prices in particular have not gone down, and you need land prices to be lower in order to enable development growth. 

In terms of demand, there is a lot of demand for free-standing buildings. That ties into those fast casual businesses like cafes and places like the Chipotles of the world that are still active and competing for spaces. Reconfiguring sites to comply with what the active competitors are looking for has been a challenge as well. 

 What are the top priorities and goals for Pierson Commercial Real Estate in the next three to five years?

Continuing to add value for our clients and maintaining client relationships is a big priority for us moving forward. We would also like to grow at a steady rate and continue to bring in more business and brokers. It is difficult to provide guidance at the moment until we know what the new administration plans to do, so we will continue to wait and see. Hopefully, land prices, material costs, and the price of labor will come down soon so new development can begin to take place.

Want more? Read the Invest: New Jersey report.