LAS VEGAS—There is some potential federal legislation on the horizon that could greatly damage the retail real estate industry, says Joseph Cosenza, vice chairman and co-founder of the Inland Group of Companies (RECon booth C1027). He tells GlobeSt.com how a tax law enacted nearly a century ago would essentially wipe out the 1031-exchange arena of the sector, potentially damaging the commercial real estate industry.
GlobeSt.com: What are the biggest retail real estate issues that concern you today?
Joseph Cosenza: The biggest issue looming today for retail properties has to do with American politics. The present Administration believes that the like-kind rules, what a lot of people call the 1031-exchange programs, should be abolished. This is a rule that Congress enacted back in 1921.
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