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"Over the last decade, the environmental remediation industry has learned a lot about what SRRA covers and where it fell short," Richardson said. "This update to the legislation dots the i's and crosses the t's, directly pulled from our lived experience with the requirements."
The industrial rent growth through the first two quarters of 2019 was nearly double the national average for rent appreciation at 10.7% but slightly lower than growth for 2018, an all-time historical high.
At a press conference in Secaucus, federal and state officials, as well as representatives from Amtrak, NJ Transit and the Gateway Development Corp. sponsor of the Hudson Gateway Tunnel program, stressed the need for the replacement of the 108-year-old moveable Portal Bridge, which has been estimated to cost $1.6 billion.
The new three-year lease transaction at the 340,000-square-foot property fills Boston-based Plymouth Industrial's largest vacancy in its portfolio and raises the property's leased rate to 76%.
Achieve 24 Fitness currently operates in 13,000 square feet of space at the building as a fitness center and Digirad Corporation operates another 5,000 square feet.
The Innovation Challenge calls for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to build public-private and community partnerships, nurture entrepreneurship and upgrade infrastructure.