In this weekend’s newsletter one of our highlighted articles is: District Detroit Project Wins Nearly $615M in Tax Incentives From State Board.  I thought it important to highlight some of the benefits of these types of incentives.  In recent years, there has been a lot of discussion and debate around the use of public funding and tax incentives to support commercial real estate development. Some have argued that developers are already wealthy and don’t need these incentives, while others have questioned the effectiveness of these programs. However, we believe that develope ..read more

As a lover of exploring the world of real estate development, Spring break is always an exciting time for me. It presents a perfect opportunity to witness how developers approach various factors that impact their project’s success and prepare for the future, all while spending quality time with the ones you love. This year, my family and I sought refuge on Hilton Head Island, South Carolina, to relax (and indulge my professional curiosities). Hilton Head Island is well known for its picturesque beaches, world-renowned golf courses, and breathtaking natural beauty. However, it was the island’s ..read more

In recent years, Detroit has undergone a significant transformation due to a surge in construction projects in the downtown area. In this week’s newsletter, WXYZ reports that the city center is poised to have a bustling year, generating more jobs and recreational options. The developments offer residents and visitors alike new recreational opportunities and job prospects, creating numerous opportunities for the locals. The city’s Riverfront is slated to become one of the country’s best with the construction of the 22-acre Ralph C. Wilson, Jr. Centennial Park, expected to open next year. The De ..read more

Operating a shopping center or being a tenant can be a complex task that involves various expenses beyond the rent paid by tenants. One of the most complex of these costs is the Common Area Maintenance (CAM) charges. These charges cover expenses related to the maintenance and upkeep of common areas such as parking lots, landscaping, and weather-related repairs. However, the exact language and calculation of CAM charges in a lease agreement can significantly impact both landlords and tenants. Let’s explore the intricacy of CAM charges and how they can potentially impact landlords and tenants ba ..read more

Please join me and ICONIC in welcoming two new regional restaurant clients that opened locations in the last few weeks: The Taco Stand (https://www.thetacostandtaqueria.com/) in downtown Birmingham at 344 Hamilton Row and The Hudson Café (https://hudson-cafe.com/detroit-the-hudson-cafe-locations-northville)  Northville at 17101 Haggerty Rd, Northville in front of Barnes and Noble on 6 Mile and Haggerty and keep your eyes open for the re-opening of the newly remodeled location in Downtown Detroit, re-opening soon! As shopping centers strive to differentiate themselves and attract customer ..read more

Last night I watched the movie “The Banker” on Apple TV it tells the story of two African American entrepreneurs, Bernard Garrett and Joe Morris, who worked to overcome racist housing laws and regulations in the 1950s and 1960s by buying and running banks with a white front man. While the story is set in the past, it is relevant to today’s commercial real estate industry. One of the key themes of “The Banker” is the power of real estate to create opportunities and wealth. Garrett and Morris were able to use their knowledge of real estate and banking to overcome racial barriers and achieve succ ..read more

If you’re looking for a powerful tax strategy to help you maximize your real estate investments, a 1031 exchange may be the perfect solution. A 1031 exchange, also known as a like-kind exchange, allows investors to defer capital gains taxes on the sale of investment property by reinvesting the proceeds into a similar property. This can be an incredibly powerful tool for savvy investors who are looking to reduce their tax burden and reinvest their profits into more lucrative opportunities.   When an investor makes a sale of investment property, they are typically subject to capital gains t ..read more

People often ask me, if I am expanding retailer what is the best expansion strategy? The reality is there is not a singular answer to this question, a whole host of factors go into determining the best strategy for a particular retailer. Some of the obvious constraints could be access to capital, proof of concept, the availability of compatible sites. One path could be that of an acquisition strategy. An investment strategy for an expanding retailer could involve several different tactics, depending on the retailer’s specific goals and resources. One approach that could be considered is the ac ..read more

Last week we discussed the many types of Commercial Real Estate ownership, today I’d like to dive a little deeper on the commercial real estate syndication. A partnership in which a group of investors pool their money to purchase and manage a commercial property. The partnership is typically structured as a limited partnership, with one party, the sponsor or developer, acting as the general partner, and the investors acting as limited partners. The Sponsor/Developer: The sponsor or developer is the main driving force behind the syndication. They are responsible for identifying and acquir ..read more

There are several ways to get involved in commercial real estate ownership, today I have outlined a few for you to consider.  If you’re looking to take your next steps into CRE, please reach out to myself, Kees@iconicdet.com or any of our agents here at ICONIC to learn more and find your first or next investment! Owning commercial real estate can offer several tax benefits for both the property owner as well as the Limited Partner (LP) investor, or a stockholder in a real estate investment trust (REIT). Depreciation: As a property owner or LP investor, you can take advantage of depr ..read more