In Greek mythology, the great inventor Daedalus and his son Icarus attempted to escape the island of Crete using wings made out of wax and feathers. While testing the wings, Daedalus warned his son of complacency and also of hubris, suggesting that he fly neither too low nor too high.
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.
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.
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.
Commercial real estate practitioners are frequently asked how commercial properties are rated. While there can be some variation by market, properties are typically classified for comparison purposes using one of two classification systems. The two systems are Metropolitan and International.