Sharkansky LLP hosted a “Business Perspectives on Commercial Real Estate” event on the evening of November 5, 2014 at Thorny Lea in Brockton, MA. The event was well attended by prominent business leaders from the Brockton Community, including John DeAndrade, Dennis Fowler, and Kate Thomas from the Brockton Rox, to name a few.
Howard Spiller, the Managing Partner of the firm, welcomed everyone and introduced Jay Pike, Partner in the firm, who monitored the panel. The panel consisted of professional with strong backgrounds in real estate, as follows:
- Lynn Tokarczyk, President, Business Development Strategies, Inc.
- Mark Donahue, President, M. Donahue Associates, Inc.
- David Fabian, Partner, MS Consultants, LLC
- Daniel Swift, Managing Consultant, Paradigm Tax Group
Mark Donahue started the conversation with an update on the commercial real estate market today, and provided insight on whether a small business should acquire a building or lease their operational premises.
Lynn spoke about the Massachusetts Economic Development Incentive Program, Tax Incentive Financing and the Abandoned Building Tax Deduction.
Dave Fabian explained the benefits of cost segregation studies to property owners, as well as the nuances of the repair v. capitalization regulations presently affecting small businesses.
Dan Swift rounded out the panel by touching on the real estate abatement process for commercial properties, including which properties were best suited toward an abatement and typically qualified for real estate tax abatements.
After the event, Dennis Fowler commented that it was “one of the most informative discussions he had ever attended”, and John DeAndrade plans to use “everything he learned at the event to develop a newly acquired property in Brockton”.
The firm’s next event will focus using a Business Advisory Board in a small business. This event is schedule for January 29th. Please stay tuned for more information.