So, is this bill truly beautiful? That depends on where you stand
I’ve seen a lot of legislation in my decades as a commercial real estate broker, but few come with a name as audacious as the “One Big Beautiful Bill.”
It sounds like something you’d hear shouted over the din of a campaign rally or stitched onto a souvenir T-shirt. But behind the marketing glitz lies a bill that, if passed, could reshape the commercial property business — particularly for those of us who live and work in the golden state of California.
The Congressional Budget Office said the bill would add nearly $3.3 trillion onto the nation’s debt load from 2025 to 2034, a nearly $1 trillion increase over the House-passed version of the bill.
Let’s break down what it means for commercial real estate.
At its core, the bill proposes a return to 100% bonus depreciation. In plain English: property owners and developers would once again be able to expense the entire cost of certain building improvements in the year those costs are incurred. Think HVAC upgrades, lighting retrofits, or a full-blown tenant improvement package.
For owners sitting on aging assets or brokers like me helping clients reposition their properties, this is a game-changer.
