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The Amazon Hangover

It has taken a year of soft absorption for me to digest the impact of Amazon opening 4.2m SF of warehouse space in 2018. I tended to ignore that number in my 2018 absorption numbers, which ended at around 3m SF of net absorption without Amazon. This continued the annual trend of roughly 3m SF of net absorption that has been occurring since 2015. Prior to 2015, we were clawing our way out of the Great Recession. The last quarter of 2019 ended strong, resulting in more than 500k SF of space being absorbed in 2019, after losing 1.2m SF of occupied space through the first three quarters. That’s more than 1.7m SF absorbed in the 4th Quarter. However, I believe some of this absorption was due

State/ Local Tax Updates

Hello and Happy New Year, Opsahl Dawson is excited for the upcoming Tax Season. We wanted you to be aware of some new state and local changes. Washington B&O Tax Increase Effective January 1, 2020 a Workforce Education Investment Surcharge will be imposed on select businesses in the service and other activities B&O tax classification. The new surcharge is equal to .3%, .5%, or 1.0% of gross receipts. This is in addition to the pre-existing 1.5% rate. For more information on WA B&O visit the DOR website https://dor.wa.gov/find-taxes-rates/business-occupation-tax/workforce-education-surcharge/workforce-education-investment-surcharge Washington Department of Revenue Annual Excise

New EB-5 Immigration Changes Are Near

The EB-5 Immigrant Investor Modernization Final Rule published on July 24, 2019, and effective on November 21, 2019, revises policy guidance, updates the minimum investment amounts, explains the new methodology for determining high unemployment areas, and adds and clarifies information about priority dates. This is the first significant change in the EB-5 Investor Visa Program since 1993. The final rule will drastically affect the EB-5 marketplace and the ability of certain regional centers to continue to operate. Under the EB-5 program, qualified individuals are eligible to apply for lawful permanent residence in the United States if they make the necessary investment in a commercial enterp

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