Good morning! Welcome back to Word of the Week Wednesday! Today let’s look at 1031 exchange.
A 1031 exchange is a provision from the U.S. Internal Revenue Code. It allows a seller to defer
paying capital gains taxes when a property is sold, and proceeds are reinvested in another property
within a certain timeframe.
Good morning! It’s Word of the Week Wednesday. Lets take a look at Cold Shell. A cold shell refers to Any building that has no interior finishes, plumbing, lighting etc. The property is essentially bare, which provides greater opportunities for improvements and customization.
Good morning, its Word of the Week Wednesday! Let’s take a look at rentable area. Rentable area refers to the tenant’s usable square footage of a property alongside their portion of the building’s common area.
It’s Word of the Week Wednesday again! Let’s introduce the phrase common area maintenance, or CAM. CAM refers to additional expenses paid by tenants meant to cover costs of daily operations of the property. The percentage of this fee is calculated by dividing tenant’s square footage by total square footage of the building.
Broker Scott Clendening of Commercial Partners Realty represented the seller, BridgePoint Church in the sale of an 11,312 SF office building located at 6735 Crosswinds Dr., St. Petersburg FL for $2,250,000. The Tyrone area office building featured in a recent St. Pete Catalyst article was sold to private investors. Located adjacent to the Tyrone…
The Mirror on Mirror Lake Drive Sold and Leased Commercial Partners Realty is pleased to announce that broker Scott Clendening has represented the seller and landlord of newest speculative quality office space in St. Petersburg. The Mirror, located at 132 Mirror Lake Drive N. is a modern, class A building, the new tenants will experience…
Let’s talk about 1031 – not Halloween, but something that faced its own scare this fall – the tax deferment program used by many commercial real estate investors. The original version of the American Families Plan proposed a $500,000 cap on the popular capital gains deferment vehicle. However, the most recent version of the bill…
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