Office

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.

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.