Office

News

Sharp Decline in Personal Income Tax Revenue Fuels $3.7B Decline in State Tax Collections

John Jordan |

Personal income tax receipts for the year totaled $48.1 billion, a decline of $3.4 billion, or 6.6%, from 2017-18, primarily due to a decrease in estimated payments.

News

Orlando Continues Long-Standing Lead in Job Growth

John Jordan |

The industries with the highest growth over the year in the Orlando area in March were professional and business services with 19,100 new jobs and leisure and hospitality with 10,100 new jobs.

Why El Segundo’s Smoky Hollow Is the Next Creative Office Hotspot

Kelsi Maree Borland |

Tech startups and creative companies are choosing El Segundo’s Smoky Hollow neighborhood for the location and attractive rents.

News

Redevelopment of Prairie View Retail Center Greenlighted in Morton Grove, IL

Steve Lubetkin |

Kensington Development and IM Properties revealed a roster of new tenants, plans for a multifamily component and a new name for the 26-acre property, Sawmill Station, located at the southeast quadrant of Dempster Street and Waukegan Road.

Features

Office Availability Decreases in Houston CBD Amid Increasing Options

Lisa Brown |

Occupiers are continuing to demand high-quality office space as evidenced by a total of 2.1 million square feet of class-A leasing activity in first quarter, accounting for 69.6% of all leasing for the quarter.

Features

DFW Industrial Growth Extends Record-Setting Run

Lisa Brown |

The first quarter of 2019 picked up where 2018 left off, with significant positive absorption, asking rents staying in line with expectations, and construction continuing at a record pace, according to a JLL report.

News

Vornado Sells Stake in $5.6B Fifth Ave, Times Square Portfolio

John Jordan |

In connection with the deal, Vornado also reports that Haim Chera, 50, has left the family-owned Crown Acquisitions to join Vornado as its EVP- head of retail.

News

City of Dania Beach Looks to Redevelop City Center Site

John Jordan |

The offering provides “an open canvas to developers for a multi-year phased development plan with a goal to jumpstart and stimulate redevelopment in the city’s Urban Core,” the city states.

Suffolk Launches Smart Lab Concept in L.A.

Kelsi Maree Borland |

The Smart Lab is a tech-forward approach to construction aimed at reducing costs and construction time.

Features

Monmouth University Real Estate Center Head Reinhart Named EVP at R.J. Brunelli

Steve Lubetkin |

Reinhart, the long-time general counsel for K. Hovnanian, will lead Brunelli’s efforts to assist homebuilders and other developers, as well as buyers and tenants on mixed-use projects.