BOMA eNews: Long-Awaited Tax Bill Preserves Commercial Real Estate Provisions


Long-Awaited Tax Bill Preserves Commercial Real Estate Provisions

On December 22, 2017, President Trump signed H.R. 1 into law. The bill, the most sweeping rewrite of the U.S. tax system since 1986, could create ripple effects throughout the economy for decades. While it looks very different from the clean, simplified versions promised throughout last year, the bill preserves many tax features important to the long-term health and strength of commercial real estate.  BOMA International has created a tax reform analysis breakdown and downloadable one-pager that outlines the new tax provisions important to commercial real estate.

For more information or questions about the new tax bill, please contact BOMA International’s Director of Federal Affairs, Emily Naden, at [email protected].


BOMA Members to Talk Infrastructure and More with Lawmakers

As part of the 2018 Winter Business Meeting & National Issues Conference, which takes place January 28-31in Washington, D.C., BOMA members will be meeting with Congressional lawmakers and their staffs to discuss commercial real estate’s top legislative issues. To help attendees prepare, BOMA’s advocacy staff will offer a “Politically Speaking: Effectively Advocating for CRE” workshop on January 30, which will cover BOMA’s legislative priorities for 2018: ADA lawsuit reforminfrastructure and preserving ENERGY STAR. The following day, BOMA members will visit Capitol Hill and take commercial real estate’s concerns directly to their elected officials. Don’t miss this opportunity to represent your industry.  Contact your local association to take part in these Capitol Hill meetings.

It's not too late to attend: Register for the 2018 Winter Business Meeting & National Issues Conferencetoday.

Cushman & Wakefield: Tech Remains King for Office Sector

According to research by Cushman & Wakefield, technology drove office leasing growth in 2017 to a strong finish in the fourth quarter. Of the 87 U.S. office markets tracked by the global commercial real estate services firm, those with a robust technology presence were among last year’s best performers in terms of leasing activity, vacancy level and absorption.

Across the U.S., new office leasing rose 9.7 percent year-over-year to a total of 312 million square feet (msf), led by geographically large markets like Manhattan, Dallas, Chicago, Houston and Los Angeles.  The influence of the tech world was particularly evident in tech-heavy markets, such as San Francisco, where new leasing represented 11.1 percent of the city’s total inventory, the highest of any market tracked.  U.S. vacancy remained flat at 13.2 percent, as new construction deliveries of 13.5 msf were almost exactly matched by office absorption of 13.8 msf, but cities with strong technology sectors also tended to see the lowest major market vacancy rates at the end of 2017.

Read the full analysis here.

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