A development site in Hamilton is on the market, with the potential to house nearly 75,000 square feet of industrial space and cannabis cultivation or manufacturing.
Government & Public Policy
From zoning disputes to the federal tax code, public policy affects the commercial real estate sector far more than you may realize. For industry leaders, government and politics demand constant attention.
Greater sunshine ahead or an incoming storm? Preparing for corporate transparency act compliance in 2024
For decades, the real estate industry has been particularly adept at using various corporate structures such as limited liability companies, limited partnerships and corporations in order to maximize the numerous liability and privacy protections and tax benefits afforded to such businesses. Commencing Jan. 1, 2024, however, many U.S. businesses will be required to disclose (and update) information with respect to their beneficial ownership to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) pursuant to the Corporate Transparency Act (the CTA), giving rise to many privacy and regulatory concerns.
The CTA will apply to tens of millions of new and existing businesses throughout the country, including many real estate businesses, individual and family investment vehicles, and smaller private companies and joint ventures.
Adaptation
The glory days of near-zero vacancy and hard-to-fathom rent growth in the industrial market always came with the slightest bit of tension, especially among veteran landlords who know full well that nothing lasts forever. And with good reason, as we now know, as the asset class grapples with new headwinds that may not have seemed likely only two years ago.
