The Wilbert Group Blog

Making News: Our Clients in the Headlines 8/4/16

  1. Screen Shot 2016-08-04 at 2.31.12 PMA recent New York Times profile on innovation in cities across the country had a great feature of the Pizitz Building in Birmingham, Alabama, which is owned by Wilbert client Bayer Properties. The Times wrote that the ethnically diverse food hall is opening this fall, featuring an unusual start-up incubator program for chefs. Bayer has preserved much of Pizitz’s original architecture, even restoring its ornate, terra-cotta facade from the 1920s. It will have six floors of residential space with 143 multifamily apartments and modern office space on the mezzanine. Bayer worked with the group What to Eat in Birmingham – a Birmingham food blog – to choose restaurants and local products to include.
  1. Amazon recently released its Q2 earnings report and, to say the least, it was impressive. Sales rose 31 percent to $30.4 billion, net income surged to $857 million, up a whopping nine times from a year ago. So what exactly can be attributed to this success? According to Wilbert client Revenue Analytics’ Jared Wiesel, much of it is due to the e-commerce giant’s prime program. Wiesel was featured in Financial Times and USA Today, discussing his thoughts on the earnings report.
  1. pokemon go_1468282374984_3947820_ver1.0We’re sure you’re all aware of the Pokemon Go craze and the lengths folks are willing to go to “catch ‘em all.” But Pokemon Go players could put their jobs at risk if they play the game while they’re on the job, according to Wilbert client Fisher Phillips’ Michael Elkon. “It’s especially important for hourly employees,” Elkon told 11Alive’s Jennifer Leslie. “If you’re clocked in and being paid for your time, then most employers are not going to look too fondly on playing Pokemon Go. Employers could find that you’re not getting your job done or wasting their time,” Elkon added. In Georgia, a right-to-work state, you could even be fired for it.
  1. For those in the hospitality space, property tax bills can be a huge burden. But if they take a proactive approach to property tax assessments, they could see a low-risk high-reward proposition. In a recent Hotel News Now article, Wilbert client Real Property Tax Advisors’ Anne Sheehan detailed the matter from a property tax perspective, saying, “You have to be knowledgeable, and you have to know how to segregate out these intangible components from the taxable real estate and the taxable personal property. That’s not something the CFO of a hotel company can pull out of his books.”
  1. Looking to move this fall? Oozing with Southern charm, the nearly 10,000-square-foot penthouse at Wilbert client Residences at Mandarin Oriental is now on the market for $7.3 million, making it the most expensive in the city. The pad is also the largest penthouse currently for sale in Atlanta. The financial and real estate firm selling the property, iStar, is offering it as an unfinished unit so the buyer can create a completely customized interior. The buyer and iStar will then work with a local architecture firm to design the finalized layout. The current suggested layout includes four bedrooms, a fitness room, a music room, a library, a catering kitchen, and a spiral staircase connecting the two floors.