What President Joe Biden Has in Store for Real Estate

President Joe Biden (Getty; iStock)

With one exception, real estate is not in Joe Biden’s immediate agenda. But within the next few months, the industry will have a fight on its hands — and a few things to cheer.

As Biden is sworn in today as the nation’s 46th president, his focus is on ending the pandemic. That’s good news for real estate, with the aforementioned exception: his proposal to continue the nationwide residential eviction moratorium until September.

Biden wants to end other measures, notably tax breaks that real estate executives have come to view as a birthright even though some have not been around that long — certainly not as long as the new president.

One favorite, the 1031 exchange, was born in 1954, a dozen years after Biden. The original provision let sellers avoid capital gains taxes by immediately spending the proceeds on another property purchase. But 1031 exchanges didn’t come into widespread use until court decisions in 1979 gave sellers time to reinvest and still get the tax break.

Since then they have become second nature in real estate. Pay taxes on reinvested gains? Unthinkable. As the late Leona Helmsley famously said, “We don’t pay taxes.

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Federal Circuit Says No Likelihood of Confusion Between Store Marks

Addressing the assessment and application of the DuPont likelihood of confusion factors, the US Court of Appeals for the Federal Circuit upheld the Trademark Trial and Appeal Board’s finding of no likelihood of confusion between W WEIGEL’S KITCHEN NOW OPEN & Design and QT KITCHENS & Design for food and beverages sold in the parties’ respective convenience stores. QuikTrip West, Inc. v. Weigel Stores, Inc., Case No. 20-1304 (Fed. Cir. Jan. 7, 2021) (Lourie, J.)

 

QuikTrip West has used its mark QT KITCHENS since 2011 in connection with its combination gas station/convenience stores. In 2014, Weigel Stores began using W KITCHENS in connection with its similar stores. Responding to QuickTrip’s cease-and-desist letter, Weigel twice altered its mark: first removing the “S” from “KITCHENS” to make it singular and changing the font, and then adding the words “WEIGEL’S” and “NOW OPEN” (and once again modifying the font). Nonetheless, when Weigel filed an application to register its final modified mark in 2017, QuikTrip opposed.

The Board concluded that there was no likelihood of confusion between the two marks and dismissed the opposition. Although many factors weighed in support of a likelihood of confusion finding—including partially identical and

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Interior design firm, Flipspaces launches a virtual store

Interior design company, Flipspaces, has launched VIZSTORE, a virtual store which allows furniture and furnishing product owners to digitise the product display, visualisation and selection experience using virtual reality technology.

On Friday, a statement from the company said this technology allows changes in furniture and furnishes retail businesses and boosts sales by reducing the store rent to a mere three paise per sq. ft.

VIZSTORE comes packed with features that effectively solve all logistical and operational problems for enterprises such as high store rent, manual update of catalogue, dependency on

“Giving a virtual tour to customers before they finalise the products that they would like to buy will give an immense boost to the sales. A virtual store can sell nearly a limitless number of items. You can create thousands of new display rooms or showcase a new furniture or furnishing product with a few clicks. A physical store is plagued by too many restrictions and would need to expand its property so as to add the same number of products and showcase them,” Kunal Sharma, CEO & Founder of Flipspaces said in a statement.

IIT alumni co-founding Flipspaces, Kunal Sharma and Ankur Mucchal, both serial entrepreneurs with a history

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Home Depot in Easton? Town asked to revise plan to host another ‘home improvement’ store | Local

EASTON — The town council will hear a request on Jan. 19 from a local property owner who wants to revise zoning text through an amendment to allow for the possibility of building a home improvement store east of U.S. Route 50 in Easton. The proposal would allow for a standalone, big-box home improvement store larger than 65,000 square feet.

The application is stirring up talk of a potential hew Home Depot store in Easton. In November, the town planning commission voted unanimously against the amendment.

Under the town of Easton’s current regulations, no major retail store larger than 65,000 square feet is allowed to be built outside of a shopping center. It must be within or adjacent to an existing shopping center.

The Gannon Family Limited Partnership, which owns property along U.S. Route 50 and leases land to companies such as Chipotle, Olive Garden and Tractor Supply Co., wants to change that.

Zach Smith, an attorney representing the Gannon Family, requested the change from the town at the end of October. He wrote a letter to the town planner dated Oct. 30 that his client was approached by a developer with interest in “proposing a new home improvement center

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