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May 12, 2021

Portman To Build 500K SF Spec Office Tower In Midtown Atlanta

[Digital Summit] Join North American Properties and Ackerman & Co. June 29 for Atlanta State of the Market

Portman Holdings is planning to break ground on a new Midtown Atlanta office tower without any tenants in tow.

Portman To Build 500K SF Spec Office Tower In Midtown Atlanta

Portman aims to start construction on 1020 Spring St., a 500K SF office tower at the 4.1-acre site of H.M. Patterson & Son Spring Hill Chapel funeral home by the spring of next year, Executive Vice President Travis Garland said. Garland said by developing the tower…

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Origin Stories: Ken Ashley On What's To Love About Tenant Rep Work

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Ken Ashley's path to a real estate career took a few zigs and zags. He was a university police officer, a part-time firefighter, a cash register salesman and a chief financial officer. In between all that, he found spare time to develop a passion for chasing tornadoes.

But in 1996, Ashley discovered his professional calling as a commercial real estate broker. Ashley, an executive director in Cushman & Wakefield's Atlanta office, said he fell in love with being a broker as a way to glean the business strategies of his clients, especially given how commercial real estate typically is the second-biggest cost after talent for most companies.

“Tenant rep is a complex job layered with compensation risk, but when the stars align, this is a wonderful career with great financial rewards and ultimate schedule flexibility,” Ashley said in an email.

Origin Stories: Ken Ashley On What's To Love About Tenant Rep Work

Bisnow: How did you get introduced to CRE? Ashley: I worked as CFO of a small family business that hired Lynn Carden [now an associate broker with I.J. Kapplin] as the tenant rep. I watched her work and fell in love with the process you go through to solve real estate…

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Funds Flood OZs As Program Faces Possible Rule Changes

The tax policy adjustments proposed by President Joe Biden in April as part of the administration's $1.8 trillion spending package included plenty of potentially bad news for commercial real estate.

For now, the industry is most focused on changes like a hike in the effective tax rate for high earners, the end of tax breaks on carried interest, and curbing the benefits of 1031 exchanges.

But there was one remaining bright spot for CRE. The major tax break offered by opportunity zones still isn't slated for elimination or reduction. And while the administration is still mum on its plans for OZs, the program's exclusion from that list of tax adjustments has caught the attention of investors, according to OZ experts.

If the program is indeed the last windfall for CRE tax breaks, the OZ operation stands to heat up even more.

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With A $28.6B Grant Fund, Restaurant Landlords Hope To Recoup Lost Rent

 

The strained marriage of restaurants and their landlords is getting another complication with the infusion of billions of dollars in government cash.

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