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ten must reads online sales tax

10 Must Reads for the CRE Industry Today (June 22, 2018)

The Supreme Court ruled that states can force online retailers to collect sales tax, Reuters reports. The Trump and Kushner family businesses are stepping away from their hotel plans in New Jersey, according to The New York Times. These are among today’s must reads from around the commercial real estate industry.

  1. Supreme Court Lets States Force Online Retailers to Collect Sales Tax “States may force online retailers to collect potentially billions of dollars in sales taxes, the U.S. Supreme Court said in a major ruling on Thursday that undercut an advantage many e-commerce companies have enjoyed over brick-and-mortar rivals.” (Reuters)
  2. Trumps and Kushners Cut Ties on Hotel Deals That Raised Eyebrows “The Trumps and the Kushners are parting ways — not the White House power couple Ivanka Trump and Jared Kushner, but their family businesses on hotel collaborations in New Jersey, according to people briefed on the situation.” (The New York Times)
  3. Kroger: Who’s Afraid of Amazon, Anyway?Kroger (KR) is thriving in the age of Amazon. For proof, look no further than its first-quarter earnings report.” (Barron’s)
  4. The 10 Largest REIT Stocks -- Which Are the Best Buys Now? “There are 165 publicly traded real estate investment trusts listed on the NYSE and NASDAQ exchanges that have market capitalizations of $250 million or more as of this writing. However, it can often be a smart idea to look at the biggest and strongest companies in any particular sector, as these not only have the advantage of scale, but also tend to have the most financial flexibility and strength.” (The Motley Fool)
  5. Zinke Met With Real Estate Developer, Halliburton Chairman at Interior Office “New documents suggest the secretary committed a potential violation of federal conflict of interest laws.” (Politico)
  6. Former Retail CEOs Hail Online Sales Tax Ruling: Old Law Rewarded a ‘Form of Tax Evasion’ “The S. Supreme Court's decision Thursday to allow states to force online retailers to collect local sales tax will even the playing field between e-commerce and legacy retail, industry leaders told CNBC.” (CNBC)
  7. Real Estate Titan Larry Silverstein On The Opening Of 3 World Trade “This month, nearly 17 years after the 9/11 attacks and 10-years after breaking ground, Silverstein Properties opened the fourth of five office towers planned for the World Trade Center site. So far consulting firm McKinsey, stock exchange IEX and digital advertising giant Group M—the anchor tenant with 700,000 square feet—have claimed approximately 40% of the building.” (Forbes)
  8. Economy Watch: Office Construction Robust, More Focused on Downtowns “Development is at an above-average rate and more focused on urban core locations than in previous decades, a recent Newmark Knight Frank report shows.” (Commercial Property Executive)
  9. Rising Interest Rates Haven’t Sowed Agency Activity “NorthMarq Capital’s Aaron Beck and Eric Flyckt give us a mid-year update on Fannie Mae and Freddie Mac activity.” (com)
  10. Where Can Investors Find Value as the Market Shifts? “The multifamily market continues to outperform other sectors, with acquisitions totaling $35 billion in Q1 of 2018. This demonstrates strong investor appetite for multifamily product as well as high investor activity in the market.” (Multifamily Executive)
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