Office

Boston-based Plymouth Industrial REIT has acquired 1717 West Harvester Road, a 465,940-square-foot industrial facility in West Chicago from a large institutional investor.

The governor's budget supports more than $1.26 billion in direct property tax relief, which includes $276 million for the Homestead Benefit, as well as an increased property tax deduction cap and expanded Senior Freeze eligibility that the governor and legislature enacted in their previous budgets.

The property, owned by a joint venture between PREIT and Macerich, reports that 20 stores have opened in the first five months of operation

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.

The new carbon calculator gives real estate owners a better look at their HVAC system environmental impact.