Northeast

Vision officials note that the rooftop deck at the 146,000-square-foot office building is similar to an exclusive Manhattan high-rise venue, totaling 2,500 square feet with an additional 600 square feet available for a potential future expansion.

In its updated 2020 Business Climate Analysis, the NJBIA report states that New Jersey has the least competitive business climate, with the highest corporate tax, state sales tax, income tax and property taxes in the region when compared to Massachusetts, Connecticut, New York, Pennsylvania, Maryland and Delaware.

Local Queens developer Gary Tsan has acquired a 200,000-square-foot development site situated in a qualified Opportunity Zone in the Downtown Flushing submarket for $58 million, or approximately $290 per buildable square foot. The one-acre development is located at 133-25 37th Ave., and is said to be one of the last large land parcels available in the submarket.

The average existing building is 40 years or older and can experience 15 to 20% degradation in operating performance each year but Hatch Data software offers efficiency, productivity and optimized asset values.

The unnamed Asian investor will contribute approximately $108 million for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture.

With the current rush to technology adoption, the construction industry is asking will it eliminate human labor.