Why Is April 15 the Tax Deadline?

Tax day falls on April 15, 2019. That’s the deadline for filing taxes on income earned in 2018. For those who file an extension, tax day is October 15, 2019. They must file the extension by April 15. Tax day is also the deadline for 2018 contributions to an individual retirement account. Tax day for those who live outside the United States is June 15, 2019. The Internal Revenue Service grants them an automatic extension. The Internal Revenue Service began processing returns on January 22, 2019. Workers who have large withholdings on their W-2 often want to file early. They want to receive their refund as soon as possible. On average, it takes 21 days for the IRS to process the refund. Click to read more at www.thebalance.com.

Dallas’ Bank of America Plaza, Downtown’s Tallest Skyscraper, is For Sale

The 72-story Bank of America Plaza is the second-tallest building in Texas and one of the five skyscrapers with the most floors west of the Mississippi. The 1.85 million-square-foot Main Street office tower outlined with miles of green lights has been owned since 1998 by Metropolis Investment Holdings, a Chicago-based real estate firm that manages assets for a German family investment group. Click to read more at www.dallasnews.com.

Amazon’s Whole Foods Could Be a Fit for 110-Year Old Sears Stores, BMO Says

Your local, shuttered Sears or Kmart store could soon turn into a grocery store, according to one investment group. Maybe even a Whole Foods.
BMO Capital Markets in a note to clients Wednesday said it estimates Amazon, with Whole Foods, could be interested in filling as many as 110 old Sears and Kmart stores, based on the surrounding demographics of those department stores and the fact that they don’t have another Whole Foods store already within a three-mile radius. Click to read more at www.cnbc.com.

U.S. Foreclosure Activity Decreases 15 Percent In Q1 2019 To Lowest Levels Since Q1 2008

ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2019 U.S. Foreclosure Market Report, which shows a total of 161,875 U.S. properties with a foreclosure filing during the first quarter of 2019, down 23 percent from the previous quarter and down 15 percent from a year ago to the lowest level since Q1 2008. The report also shows a total of 58,550 U.S. properties with foreclosure filings in March 2019, up 7 percent from the previous month but down 21 percent from a year ago — the ninth consecutive month with a year-over-year decrease in U.S. foreclosure activity. Click to read more at www.prnewswire.com.

Underwriting Real Estate Investment in a Mature Market

We are approaching a significant milestone. If the U.S. economy continues to grow through June, it will mark the longest economic expansion in the modern era. Commercial real estate markets have ridden this wave to all-time-high valuations, and stakeholders continue to be optimistic. Institutions will continue to invest hundreds of billions of dollars in commercial real estate this year. However, not surprisingly, given the asset appreciation and cost inflation caused by a 10-year run, capital providers are heavily scrutinizing deals. Click to read more at www.transwestern.com.

Houston Office MarketView Q1 2019

During Q1 2019, top leasing transactions totaled 36% more square feet than Q1 2018. This activity was concentrated in the CBD (31%), Energy Corridor (30%), North Houston (22%), and West Loop / Galleria (14%).  87% of tenants leased Class A properties. While no office space was delivered during Q1 2019, the construction pipeline added Park Place River Oaks, a 207,000 sq. ft. office tower in the West Loop / Galleria submarket. Total space under construction increased to 2.4 million sq. ft. Click to read more at www.cbre.us.