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Danger lurking in Biden plan to eliminate or cap 1031s


The strength and resilience of the commercial real estate market has been tested many times over the last 100 years — never more so than during these past 16 months as the COVID-19 pandemic shuttered countless strip shopping centers, shopping malls, retail centers, and restaurants.
It is estimated that up to 25% of strip shopping centers will go bankrupt. The fallout continues with hotels and office buildings. Virtual meetings will permanently replace significant business travel, and many people will work from home exclusively.
As every state in the nation, California especially begins to creep towards an economic rebound, commercial real estate must again play an essential role in that recovery. The Biden plan to eliminate the ability to defer taxes on property gains over $500,000 from like-kind exchanges of real estate, which is granted under Section 1031 of the Internal Revenue Code, will cripple commercial redevelopment at a time when our communities need that inv ....

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GoLocalProv | Three RI Stop & Shop Supermarket Developments Sold As Part of $295M Sale


Sunday, April 25, 2021
 
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The Inland Real Estate Group of Companies has purchased a portfolio of 11 Stop & Shop grocery store locations throughout Massachusetts, Rhode Island, and Connecticut for a combined $295 million.
The package of properties included the following properties in RI: 595 Smithfield Road, North Smithfield; 446 Putnam Turnpike, Greenville; and 333 West River Sreet, Providence.
The Inland Real Estate Group of Companies, Inc., which is headquartered in Oak Brook, Illinois, employs more than 1,000  nationwide. Inland states that it owns and manages hundreds of millions of square feet of various commercial property types in 49 states.GET THE LATEST BREAKING NEWS HERE SIGN UP FOR GOLOCAL FREE DAILY EBLAST ....

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iFresh has established a partnership with HungryPanda


iFresh has established a partnership with HungryPanda
The Fresh Market voted the best supermarket in America
USA Today s 10Best Readers Choice Awards has recognized The Fresh Market as the Best Supermarket in America for 2021. A panel of 10Best local experts and contributors nominated their favorite American supermarkets based on value, selection and service. Readers could then cast their vote for their favorite supermarket once per day for a 28-day period through the 10Best website. The list of the top 10 winners can be found online here.
US: iFresh announces delivery partnership with HungryPanda
iFresh, Inc. (“iFresh” or the “Company”), a leading Asian American grocery supermarket chain and online grocer in the east coast of U.S., announced it has established a partnership with HungryPanda, a global leading food delivery platform. The 2 parties entered into a service agreement on April 20, 2021, pursuant to which the partners have agreed to jointly la ....

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Stop and Shop: 'No plans to increase prices' at 3 CT stores after landlord change


Stop and Shop: No plans to increase prices at 3 CT stores after landlord change
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An example of one of the 11 stand alone Stop & Shop supermarket locations, including three in Connecticut that were recently sold for $295 million.Contributed photo / JLL
A new landlord for 11 Stop & Shop locations in New England, including three in Connecticut, won’t result in any increase in prices, a company spokeswoman said Friday.
Maura O’Brien, a spokeswoman for the Massachusetts-based supermarket chain, said “Stop & Shop has no plans to increase prices on items as a result of this property management change.”
A suburban Chicago-based commercial real estate organization, Inland Real Estate Group of Companies, bought the properties for $295 million, according to an announcement made Thursday. Among the locations included in the purchase were Stop & Shop properties in Cromwell, Seymour and Willimantic. ....

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