3 ACCOUNTING TIPS FOR BETTER BUSINESS

Reznick Group's Mary Beth Norwood, who is speaking at Bisnow's2nd Annual Baltimore Real Estate Summit on April 24, shares the advice she's giving her clients as we claw out of the recession:
  1. Monitor your operating costs so as to not return to pre-recession spending habits (no more French manicures, even if your building has a date tonight).

  2. Make sure your asset management team is proactively managing your portfolio to your objectives.

  3. Looking for a loan? The market is picking up, so weigh all your options for terms. You might be surprised what you can get.


Of course it's tax season, but Mary Beth tells us Reznick's other in-demand work right now is compliance with regulatory, statutory, and lender agreements like Payment in Lieu of Taxes calculations. (Baltimore City Council prez Jack Young, above, has decried the high amount of tax revenue lost to nonprofit landholders.) Meanwhile, high real estate taxes for the rest of Baltimore's landowners (and crime) stand in the way of the business welcome wagon, Mary Beth says, and this era of budget gaps makes a transition to a more business-friendly environment tougher.

Baltimore's beacon, though, is the waterfront, she says. The Four Seasons (which we snapped, above) and other Harbor East activity are a great start, and the redevelopment of the Allied Chemical site for Constellation "will dramatically improve an already impressive gateway," she says. Then there's Under Armour's campus redevelopment. Those projects will anchor "the most public part of our city," she says. To hear more from Mary Beth and the rest of our all-star line-up, register here!

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Baltimore Newsletters
Related Stories

From Pandemic Darling To Cautionary Tale: Pickleball Clubs Face A Reckoning After Betting Big On Retail Space

Morningstar Releases New Details On Over 350K SF In Q3 Office Leases

4,500-Acre Data Center District Approved In Pennsylvania Town

New Bears Stadium Proposal Floated For Bridgeport

Georgia's Utility Board Race Could Reshape Nearly 20 GW Pipeline Of Data Centers

Prologis To Develop 3.8M SF Industrial Park On Former Casino Site

Foundry Robotics Leaves San Francisco For New East Bay HQ

Tenant Rep Firm Expands To Philly, Hires Industry Veteran

$120M Ambulatory Center Planned For Suburbs: The Chicago Deal Sheet

Data Centers Lose The Top Spot, San Francisco Jumps 40 Places: 9 Takeaways From ULI's 2027 Outlook

Obama Center Shows Chicago Is Starved For Development

Charlotte Extends Data Center Moratorium For 11 More Months