Category: Focus 2020

Cedar Hill, Texas is the Place “Where Opportunities Grow Naturally”

Posted on by Sarah

Cedar Hill, Texas is the place “where opportunities grow naturally.” Once the county seat of Dallas County, the city of roughly 50,000 has historic roots with an eye to the future. Its city leaders and economic development team work closely with residents to maintain the community’s exceptional quality of life. REDNews recently caught up with Cedar Hill leadership for a Q&A about what’s new in the Dallas community. REDNews: How would you describe Cedar Hill? Cedar Hill: Over the past three decades, robust growth has made Cedar Hill the prime location for development opportunities. Located in a beautiful natural environment with Joe Pool Lake and Cedar Hill State Park, Cedar Hill is the top choice for those who want big-city amenities with a small-town ambiance. Planners, economists and site selectors alike identify Cedar Hill as one of the brightest spots for economic development in Texas, offering numerous advantages for businesses relocation. That includes being 20 minutes from downtown Dallas, 30 minutes from DFW Airport and 40 minutes from downtown Fort Worth. Other assets include the Cedar Hill Business Park located near US Hwy 67 with rail access from BNSF, the business-friendly environment with ample workforce of more than one million in a 30-minute commute, maintaining low taxes, affordable cost of living and quality education, as well as more than 3 million square feet of retail and Class A office space. Click to read more at www.rednews.com.

Emerging Trends for 1031 Investors

Posted on by Sarah

Because of the increased interest in 1031exchanges, we invited a group of industry experts to talk about the trends they’re seeing in the market, including trading into Delaware Statutory Trusts (DSTs) and how to exchange oil and gas. “… you want the diversification …” The first topic out of the gate was umbrella partnership REITs (or UPREITs). An alternative
to 1031 exchanges, UPREITs offer a way for an investor who is looking to liquidate some real estate to defer taxes. You would sell or contribute that property to the REIT. “That REIT gives you operating partnership units, then you can control the liquidity. There are no taxes on that whatsoever until you transfer those operating partnership units to shares of the stock.
Once you transfer that share stock, that’s not real property and you’re going to be taxed there,” explained Jay Dobbs, senior managing partner of
Effective 1031 Planning. “That REIT gives you operating partnership units,
then you can control the liquidity. There are no taxes on that whatsoever until you transfer those operating partnership units to shares of the stock.
Once you transfer that share stock, that’s not real property and you’re going to be taxed there,” explained Jay Dobbs, senior managing partner of Effective 1031 Planning. Click to read more at www.rednews.com.

Investment Intel

Posted on by Sarah

All too often, you hear that commercial real estate is all about who you know, though any real industry expert will tell you what you know
is far more valuable. That’s why REDNews has made it a mission to gather best-in-their-field panelists for our now-monthly summits. Most recently we gathered in Dallas for the Texas Net Lease & 1031 Summit, covering legal and tax updates for tax-deferred transactions, the status of the current net lease market, understanding your lease and credit and emerging trends for 1031 investors which was moderated by Gavin Kam with Net Realty Advisors. In the following pages, we’ll cover some of the highlights and important details gleaned from our panelists and next month you’ll have a recap of current net lease market conditions in Texas also led by Gavin Kam. The effort is being led by the Federation of Exchange Accommodators (FEA), which says it is “heavily promoting taxpayer-friendly legislation,” an umbrella under which 1031 exchanges certainly fall. A 1031 exchange is a vehicle by which an owner can sell an investment property, then acquire another “like-kind” property while deferring capital gains tax. Otherwise, a federal tax of at least 15 percent is applied to your capital gains, along with a 3.8 percent surtax if your net investment income exceeds $200,000 and any state taxes. Click to read more at www.rednews.com.

Cedar Hill, Taj Hospitality Break Ground on Hotel & Convention Center Project

Posted on by Sarah

On Thursday, October 3, the City of Cedar Hill broke ground on a Hotel and Convention Center project that will bring 136 hotel rooms, convention center space, adding enhanced commercial and entertainment amenities to the City. The project will be constructed on the eastern side of Hillside Village shopping center and will include an approximate 136-room Aloft hotel and adjacent convention facility to include an 8,000 square foot
ballroom, 4,000 square feet of flexible meeting space, and various support spaces. The project is being designed to interact closely with existing retail
activity and provide a foundation for an enhanced entertainment presence in the area. The anticipated total value of the facility is approximately $25
million and is projected to open for business in the summer of 2021. “This is a project that has long been anticipated, and we’re excited to add a
hotel/convention center to the high-end retail and entertainment offerings at Hillside Village in Cedar Hill,” says Mayor Stephen Mason. Click to read more at www.rednews.com.

McAllen On The Move

Posted on by Sarah

A powerhouse city. Boomtown. The epicenter of the Rio Grande Valley. There are plenty of ways to describe McAllen, Texas, but they all have one
thing in common: growth. “With the volume of consumers that comes in to
McAllen daily, our city has developed a robust economy,” says Rebecca Olaguibel, the city’s Director of Retail and Business Development. The numbers are incredible for a city its size. With a population of around 140,000, McAllen generates more than $3 billion in gross retail sales thanks to 18 million people (an average of 39,000 people per day) who visit the city every year. It’s just 10 miles north of the Mexican border, so international visitors flow through it via McAllen International Airport and the two international bridges managed by the city. “It’s truly a geographic jackpot,” says Olaguibel, who has worked for the City of McAllen for 12 years. Its retail offerings are part of the draw of McAllen, making it the premiere shopping destination in South Texas and northern Mexico. While new
shopping centers and big box retailers open up new locations there, city leaders say it’s important to recognize the critical role small businesses play in the overall success of McAllen. Click to read more at www.rednews.com.

Is Your Insurance Claim Running Out of Time?

Posted on by Sarah

There are few market forces that can shut down a commercial operation the way Mother Nature’s forces can. Hail, wind, fire and floods can all significantly impact business operations and, while insurance is supposed to be a tool to help you manage risks with those unexpected interruptions, it can often introduce new challenges. “There’s a lot of risk in owning commercial real estate. Property owners’ buildings are always at risk and it’s just not right when insurance companies don’t pay fairly and promptly,” says public insurance adjuster Scott Friedson, CEO of Insurance Claim Recovery Support (ICRS). “When policyholders retain us, we virtually step
into their shoes and act as their exclusive claim advocate.” Best of all, there is no fee for his services it there’s no recovery. That, however, has never happened. “One hundred percent of our claims settle higher and/or faster than what the initial carrier offered,” says Friedson. “We have a 100 percent
win rate.” Licensed and bonded by Texas and other states, Friedson applies his 10 years of trusted public adjusting experience to exclusively represent
commercial and multi-family property owners to settle property damage insurance claims fairly and promptly. Click to read more at www.rednews.com.