Are Opportunity Zone Benefits All They Promise? In many cases, a 1031 exchange might provide better
There is a frenzy around opportunity zone investments and the capital gains tax benefits that come with them, but for commercial real estate investors and developers, 1031 exchanges will likely provide better tax benefits. That is because there are mitigating circumstances to receiving the tax benefit from the qualified opportunity zone. The capital gain must be reinvested, the most “misunderstood” aspect of the qualified opportunity zone feature. The most misunderstood part
Existing Buildings Energy and Water and AB 802 BENCHMARKING - DUE 6/1
California Assembly Bill “AB 802” requires buildings over 50,000 sq. ft. to report their energy usage on an annual basis to the California Energy Commission (CEC). The City of LA’s EBEWE requires all buildings over 20,000 sq. ft. to report energy and water usage to DBS by June 1, 2019. Read more here https://www.greeneconome.com/ebewe-city-of-la/
CRE Owners Push City to Make the Solar Rooftop Program Permanent
L.A. commercial property owners are pushing the LADWP to expand its pilot solar feed-in-tariff program, which allowed property owners to lease rooftop space for solar panels. Estimates that the solar program has a benefit of $0.04 to $0.05 cent per foot benefit on a solar lease on a roof. “An owner can use their rooftop, which is an under-utilized asset for them at this point as a place to generate income.” “It also has other benefits, putting the solar on the roof cools the
Burbank gives green light to massive business park project
Spread across 61 acres, the Avion Burbank business park will have nine two-story office buildings, six light-industrial structures, two retail buildings, and a 150-key hotel. The massive project by Overton Moore Properties got the green light from the Burbank City Council, with construction expected to begin in the fall, according to the Burbank Leader. The 18-structure development will rise near the Hollywood Burbank Airport, continuing what has been an active period for inv
Prop 13 ballot measure to reassess commercial properties gets pushback
California voters in 2020 will have a chance to revise a decades-old tax measure, which if passed would reassess the value of commercial properties every three years. That could raise up to $12 billion in its first few years for counties around the state. While the change to the 1970s-era tax measure, Proposition 13, would be a radical shift, tax assessors say it could be extremely difficult to implement in a reasonable time-frame, according to the Los Angeles Times. Still th
