Office

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.

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.

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

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.

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.

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.

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.

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.