At nearly 100 years old, like-kind exchanges have become a subject of much debate recently as tax reform has taken center-stage under the Trump administration. Tax reform is on the agenda for Congress in 2017 and it must consider whether to repeal, preserve, or expand the provisions of the section of the United States Tax Code known as “1031”.
I used to really enjoy the television show, The Jetsons. Perhaps I’m dating myself with that statement, but the Jetsons – George, Jane, Judy and Elroy, were an average family living in a really cool, high tech society. The intro to the animated series demonstrated just how progressive the future was expected to be, depicting the characters wearing clothing that’s more in line with something out of the Hunger Games than anything we might know today.
Light-emitting diodes (LEDs) are today’s fastest growing lighting technology. In fact, at the end of last year, industry analysts at Goldman Sachs recognized the adoption of LEDs as being among “…the fastest technology shifts in human history.” The company then went on to state that market share for LEDs will reach 69% by 2020, and nearly 95% by 2025. That’s amazing growth considering that in 2010, LEDs had a near zero market share. If you’ve been considering LED lighting for your property, here’s some information to help your decision making.
With the arrival of sunnier days, our thoughts turn to the outdoors. Cookouts, days at the beach or the park are appealing distractions after our winter shuttering. While blooming flowers and greening lawns signal the arrival of spring and eventually summer, the warmer weather also brings some unfavorable pests and nuisances. Homeowners will be quick to point out that mosquitoes and other airborne and terrestrial tormentors can make outdoor living almost unbearable if the proper defensive measures aren’t taken. While flying, crawling, slithering creatures are realities of our personal interaction with nature, they are also very real concerns for commercial property owners and managers.
The telltale signs of spring are upon us. Punxsutawney Phil and his groundhog brethren have crept from their dens and afforded us various predictions on the coming of the season. We’ve celebrated St. Patrick’s Day and set our clocks ahead. And, while some regions of the United States are getting their last dustings of soggy wet snow, others are enjoying the colorful, early blooms of crocus and forsythia. Each of these events lets us mark time on our mental calendars, but they also remind us that Spring is traditionally a time of renewal and a great time to evaluate and remediate the maintenance needs for our commercial real estate properties.
There’s a great scene from the movie Money Ball in which Billy Beane, played by Brad Pitt, and his head scout argue over how Billy’s data-driven approach to talent scouting and acquisition disregards the experience and intuition of his lifelong “baseball men.” What’s really intriguing about the scene is when Billy looks the scout in the eye, throws his hands in the air and in a matter-of-fact manner tells the naysayer to “adapt or die”. The statement is part foreshadowing and part revelation as the scout is let go in the next scene and the 2002 Athletics eventually go on to break the American League record for most consecutive games won.
It is always interesting to hear how people are going to start each new year. Plans and commitments (or re-commitments) are often espoused in the form of resolutions. While most often associated with personal goals like losing weight, quitting smoking or realizing bucket list items, many business and commercial resolutions are also made.
Let’s face it, budgeting is a necessary evil. To do it right means capturing lots of different data points and mashing those together to paint a picture of the income and the expenditure activities within a particular property for the coming year. It’s neither a quick nor easy task and its magnitude varies by the size of the property, complexity of the facility, age of the building and the needs of the landlord. Without a doubt, it is an important task that will produce a financial roadmap for that property for the year ahead.
As we are enjoying the last days of warm weather, winter is probably something you don’t yet want to think about. It can be hard to let go of those warm, sunny days, but don’t let a lack of preparation make it even harder on you and your home. When a chill sets in we trade t-shirts for hoodie sweatshirts, iced tea for hot cocoa, and air conditioning for heat, so why neglect our homes? Winterizing is just as important to enjoying a comfortable winter season, because the last thing you’ll want to deal with on a dreary, cold day is a frozen, busted pipe!
We are pleased to announce we were awarded the management assignment for the University Plaza Shopping Center in Winston-Salem, and the 274 Eastchester Shopping Center in High Point.
University Plaza contains 215,854 leasable square feet. Its tenant roster includes Burlington Coat Factory, Food Lion and Office Depot. The Meridian Realty Group was also awarded the leasing assignment for the center.
The 274 Eastchester Shopping Center contains 63,306 leasable square feet. It is anchored by Office Depot. Other major tenants at the center include Dunkin Donuts, Dollar Tree, Plato’s Closet and Hooters. The center is 85% leased.