But Gale will go a bit against the tide, said its president and chief investment officer, Mark Yeager, by converting some store space to offices.

"Even in turbulent times, select companies need new homes," said Mark Yeager, Gale & Wentworth's president.

Mark Yeager, president of the Gale Company, another major developer, owner and broker of commercial space, said: "Over the last 90 days, there has been a very different feeling about the way things are going, more positive than any period in the last couple years.

He is Mark Yeager, not Yaeger.

Mark Yeager, Gale's president, says the time has come for developers to act on the good news in the state's economy: more jobs, lower unemployment and interest rates still low enough to permit a healthy capitalization rate.

Since 1996, the last four buildings, totaling 500,000 square feet, were developed speculatively, said Mark Yeager, president of the Commercial Group at Gale & Wentworth.

"I know prospective tenants at least have been out there taking a look and kicking the tires," said Gale & Wentworth's president, Mark Yeager.

"There will be more turbulence in the next four to six months before the market rebounds," said Mark Yeager, president of Gale & Wentworth, a real estate company with headquarters in Florham Park.

Mark Yeager, president of the Gale Company, said a number of "high-profile requirements" - requests to find space for well-known companies - had emerged in recent weeks.

"The key in this market is being able to deliver product for tenants who typically have a lead time of 18 months," said Mark Yeager, president of Gale & Wentworth's Commercial Group.