Here we are in the dead of winter with snow and cold all around us. The smart ones have left for warmer climates but what about the real estate market?
The Greater Portland office market finally surpassed a total market size of 12 million s/f in 2017 in 341 Class A and Class B buildings — due to the addition of several new buildings. Vacancy rates continued to fall for the 8th consecutive year.
2017 was the year of the catastrophic weather and fire event, with three major hurricanes hitting Texas, Florida and the Caribbean, two major fires in California, and an earthquake in Mexico; worldwide catastrophes reached epic proportions.
At the start of each year CBRE/New England presents in Boston its predictions and projections for the year ahead. 25 years ago in 1993, our presentation was at the Harvard Club with 28 attendees. The 1990s were a time of recession, and doom and gloom was everywhere.
For the second year in a row I have the opportunity to consider the New Year’s forecast for the Hospitality Industry here in New England. Last year at this time it was just before the inauguration of President Trump and there were a lot of unanswered questions.
There are a considerable amount of new developments and major re-developments occurring throughout the region. Support for these projects continues with national, regional, and local tenants signing leases and opening storefronts. In Boston, many projects are mixed-use in nature and include a retail component.
Christopher Mellen, CPM is the vice president of the Simon Companies, Braintree, Mass.
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The stock market is soaring to record levels, oil prices are down, housing sales are off the charts, the newer lifestyle centers and the older malls are short on parking spaces…at least when I go, and the higher end restaurants seem to have substantial waits if you’re going out around supper time almost every night of the week.
Welcome to 2018! New Years’ always brings changes to taxes. Key numbers, like tax brackets, standard deductions, personal exemptions, and qualified plan contribution limits, all roll over on January 1. But this year brings more change than any year since 1987.
On December 22, 2017, President Trump signed the revised tax reform bill, formerly presented as and called the Tax Cuts and Jobs Act, into law. The new law has many of our clients asking how it could affect their ability to do 1031 Exchanges.
