The National Association of Office & Industrial Properties (NAIOP), along with its New Jersey chapter, officially changed their names yesterday to the Commercial Real Estate Development Association (CREDA) and Commercial Real Estate Development Association, New Jersey Chapter (CREDA NJ), respectively.
At a ceremony at The Park in Berkeley Heights, Dan Kennedy, executive director of CREDA NJ, said the change was made to better represent today’s commercial real estate (CRE) landscape, reflecting not only office and industrial properties, but mixed-use, adaptive reuse, retail, life sciences, data centers and the increased use of artificial intelligence.
“The commercial real estate industry has transformed considerably since our New Jersey chapter was formed over 55 years ago,” said Kennedy. “Simply put, we outgrew our old name. The ‘Commercial Real Estate Development Association’ clearly states where our values lie and the depth of asset classes we represent. This new name reflects how far our members have grown beyond the words that once defined us and better represents the expanded scope of the CRE industry’s work today.”
CREDA NJ has more than 850 members, and the name change better positions the organization to grow further by attracting new asset classes. “Every asset class in commercial real estate is welcome in our organization. In the name that we’re leaving behind, folks didn’t always feel that way. We hope that this is a welcoming move, a move that sets the stage for growth in the future,” Kennedy said.
CREDA NJ President Matt Schlindwein, PE, of Greek Real Estate Partners, commented, “Our membership and the projects they deliver have evolved over the years. We will continue to represent much more than just industrial parks and office buildings.
“However, while the new name will help us broadcast what we are, it’s important to highlight what we really represent: This organization goes far beyond the reaches of our projects. This organization represents relationships, career building, friendships, advocacy on behalf of individuals and the whole community, and the advancement of young rising leaders … these are all the things we represent and have always represented,” Schlindwein said.
Kennedy added, “We dropped the moniker of the full NAIOP name, but we do so with a tremendous amount of respect … for those who have come before us, both members and staff, who have invested in this industry.”
Founded in 1967, the national CREDA association represents more than 21,000 members through 55 chapters across North America.
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