“President Biden’s plan to alter Section 1031 of the tax code to increase real estate taxes has become another weapon in the “war” against the rich. According to the Biden administration, the use of Section 1031 to defer capital gains taxes by exchanging one property for one of like-kind serves only to benefit the wealthy. However, based on a study by Ernst & Young, 1031 exchange transactions are expected to support about 710,000 jobs, generating $34.4 billion this year. Smaller investors (including many minorities) utilize the tax law to climb the economic ladder by reinvesting their proceeds into more valuable properties. Furthermore, investors commonly roll their capital gains into fixer-uppers, sometimes spending millions on improvements and uplifting communities in the process (The New York Times). There’s no doubt that the working class has struggled in the U.S. for some time. However, raising real estate taxes is a step in the wrong direction.” -Adam Abushagur

 

I N D U S T R I A L   N E W S

Investors Fear Losing A Prized Loophole
The New York Times – June 9, 2021
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It’s Business As Usual For This Firm On 1031 Exchanges
GlobeSt. – July 2, 2021
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Industrial Taking Rents Are Blowing Past Asking Rents
GlobeSt. – June 28, 2021
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‘Everybody Wants A Piece Of The Pie’ As Industrial Demand Soars,
But Will Rising Costs Cut The Boom Short?
Bisnow – June 29, 2021
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Besides Materials Costs, Labor Shortages
Are Also Hindering Construction
GlobeSt. – June 30, 2021
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R E G I O N A L   N E W S

“Golden Triangle” For Industrial Properties From Illinois
To Texas To Georgia
GlobeSt. – July 12, 2021
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DFW Industrial Developments Are Just The Start For Velocis
Connect Texas – July 13, 2021
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HomeGoods Settles Into Carter Park East For 20 Years
Connect Texas – July 9, 2021
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‘It Just Happened,’ A Little Bit Of Luck Leads To An
All-Female Industrial Transaction
Bisnow – July 14, 2021
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Amazon Buys SW Side Property For $35 Million
Chicago Sun Times – July 14, 2021
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