Internal Revenue Code (IRC) Section 1031 allows a property owner, who holds property for “the productive use in a trade or business or for investment”, to defer paying any capital gains taxes if the property owner sells such property, identifies “like kind” property within forty-five days of the sale, and acquires other “like kind” property within 180 days of the sale. The theory behind Section 1031 is that real estate investors selling and reinvesting in new investment property are not cashing out of their investment, and that the replacement property is a continuation of the old investment.
The following is an excerpt from the 2017 KeyPoint Report on Eastern Massachusetts/Greater Boston.
Supply, Occupancy, & Absorption: This year Eastern Mass. inventory grew moderately, reaching 194.6 million s/f, or an increase of 0.4%. No major center development occurred during the year. The largest gains came from the freestanding 136,000 s/f Life Time Athletic in Framingham and the 82,000 s/f Market Basket in Plymouth. Another addition was the expanded retail area at Prudential Center, to accommodate a 45,000 s/f Eataly food concept and Under Armour flagship.
Middleborough, MA The Town of Middleborough has been buzzing about The Woodlands, its newest apartment community. And, to the delight of the...
The current insurance marketplace, with the exception of health insurance, continues to be favorable for the insurance buyer. The industry has abundant surplus and has experienced reasonably decent results. Most businesses will be able to negotiate flat rates and some businesses may even see rate reductions. Insurance premiums, however, need to be kept in perspective. They are only one component in the cost of risk. The indirect cost of risk actually exceeds premiums paid. This includes money spent managing risk, training employees to be safe, dealing with claims, funding uncovered claims among other costs.
In Brockton as the comeback continues, we are always looking to other success stories for inspiration and guidance. Why reinvent something if another has done well with a concept? The ideas may not always translate well, but in most cases the essence of the thoughts can be adapted to the situation at hand, so as to create an environment that may not look and feel like another, but surely offers a unique sense of place and a positive progress that can be built on.
For example, Portsmouth, N.H. covers a large area, but gives users a sense that it is cozy and carefree. The streets wind around to give shoppers a small town feel while providing locally owned boutiques, bakeries, cafes, fine dining, theatre, entertainment and social collisions.
In this article I am going to address whether development/phasing rights in a phased condominium are real property, personal property, and/or contract rights.
I have been treating development/phasing rights as real property since the early 1970s. Only recently have I learned that development/phasing rights in a phased condominium are still treated as personal property and/or contract rights by at least one of the major title insurance companies doing business in Massachusetts. It is time to resolve this issue once and for all.
As a borrower, you may have heard of interest rate swaps as a mechanism for managing the risk of interest rate fluctuations. In a swap, the borrower essentially trades the floating rate provided by its lender for a fixed rate of interest. This is achieved by the borrower entering into a separate transaction with a “swap counterparty”. The swap counterparty is often, but not always, the lender itself.
Chittenden County has experienced a flurry of development and change in the last two years with the majority of growth occurring in the retail and residential rental markets. The closing of Burlington College led to the sale 60 of acres of waterfront and other property including their 77,000 s/f headquarters building to developer Eric Farrell. Construction on that land has now begun under the name Cambrian Rise, a 735 unit development containing a mix of multi-story condos and rental apartments. The development may also soon include residential housing, small studios, restaurants, shops and a hotel. Full build-out is estimated at 10 years.
The Rhode Island industrial market in the first half of 2017 was active and demand came from the traditional industrial sector as well as the marijuana cultivation market. At one point there was a healthy amount of space for lease in the 10,000 s/f - 20,000 s/f range. But since the influx of a vast number of cultivators seeking to find a suitable location, much of the space in this size range has now been absorbed, leaving the traditional industrial users without many similar sized space options. A few larger leases were consummated further lowering the amount of available space. The availability of modern, functional buildings for sale has also triggered a steady absorption leaving a limited supply of these types of buildings. In a 50 million s/f industrial market with a relatively low vacancy rate to begin with, a surge of activity can have a significant impact on the market.
If you’re a single male, your competitive advantage could be a luxury car, being tall, lean and good looking. Being financially secure helps.
If you’re a single woman, it could be as obvious as being funny, approachable, and attentive. Like a single man, being financially secure helps.
That said, in today’s highly competitive environment, a restaurant’s competitive advantage is most noticeable with the staff, from upper management to kitchen workers. With food and beverage businesses, of every size and shape on every street corner, in every commercial bldg., and with new restaurants opening every day it seems, why won’t over 50% of them survive longer than 5 years?
