- Boon for Affordable Housing
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A recent U.S. Supreme Court decision not to review a ruling from the
California Supreme Court in Building Industry Association v. City of San
Jose gives cities across the country a road map to use zoning to impose
affordable housing requirements on new housing developments.
This U.S. Supreme Court decision has opened the door for a new way of
requiring more private developers to subsidize affordable housing. It
is only a matter of time until local governments use this inclusionary
zoning tool as a way to help fund the high demand for lower cost
housing.
- Gross-Up Provisions
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Tenants benefit from having fixed variable costs.
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In the cyclical world of real estate investment, property owners and their lenders have long sought ways to minimize their financial exposure as vacancy rates rise and fall. If left unaddressed, vacancy volatility undermines the ability of a land
- Tug of War
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The year is coming to a close. Now is the time to consider charitable donations for today and tomorrow.
Individuals may think about what charities have made a difference in
their lives. Or ask themselves what legacy they want to create. Now
Alfred Nobel is not remembered as a cannon manufacturer but for funding
the prestigious Nobel Prizes.
- China’s Fall?
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Do homefront woes signal the end to U.S. investment?
China's slowing economy, devalued currency, roller-coaster-like stock market, government focus on domestic growth, rumored delays in further financial liberalization - surely all this spells the end of the Chinese investment boom in U.S. real estate? Isn't
- Series LLCs
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Utilizing this structure partitions risk.
A series limited liability company is an entity structure that allows for the formation of multiple segregated LLCs, known as “series,” under the umbrella of a single “master” or traditional LLC. In 1996, Delaware became the first state to enact a series LLC statute.
- Limited Guaranties
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Landlords want to be assured of the economic strength of their tenants however, determining what is the right amount of security can be difficult. In a perfect world, the landlord takes a full guaranty from a creditworthy person, especially if
- Use a Lifeline
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Mired in a difficult market, real estate agents, brokers, and property managers are encountering adversarial situations and hostile clients. When deals don’t work out as hoped, buyers and sellers look for someone to blame. Increasingly, they are finding fault with
- Industrial Rising
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By 2030, millennials will comprise about 75 percent of the workforce. This generation is driving changes in all sectors, and the next to be affected is industrial. Industrial employees want amenities and creative spaces too, so industrial spaces will need to be modified to fit those needs.
- Anchors Away
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- Healthcare Headaches
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During fourth quarter 2011, real estate investment analysts predicted that demand for medical office buildings and healthcare facilities would continue to be strong over the next decade, due in part to high demand for healthcare services. While demand for healthcare
- Taking Charge
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Owners can avoid pitfalls in tenant leasing.
Landlords and property owners of commercial and industrial property often underestimate the importance of analyzing their property tax assessments for leased buildings. The rationale for skipping this review is simple. The property taxes are paid by tenants through
- Retail Tenant Bankruptcies
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Despite a strengthening economy, the retail sector continues to face challenges. Since late 2014, several prominent retailers — including Brookstone, Coldwater Creek, Loehmann’s, Crumbs Bake Shop, Wet Seal, and most recently, Radio Shack — filed for Chapter 11 bankruptcy. While
- Foreign Aid
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While the broader economy is still seeking firm footing, commercial real estate appears to be among the early engines of growth. Sustaining momentum in property markets comes with the ever present challenge to secure funding, as lending and capital markets
- Going to the Source
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Real estate agents and brokers often make disclosures without attributing information sources. In so doing, they become the source of the information. When the information is accurate, there is no problem. When the information is inaccurate, however, the agent or
- New Legislation Encourages Developers to Clean Up Brownfields
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Enacted in 1980, the Comprehensive Environmental Response, Compensation, and Liability Act imposed liability for the release of hazardous substances on four categories of potentially responsible parties, or PRP the owner or operator of the facility at which the release occurred
- Ruling Raises Issues About Who Pays CERCLA Cleanup Costs
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Congress enacted the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to make those who created environmentally impacted properties responsible for cleaning them up. In particular, CERCLA allows current property owners to recover full or partial cleanup costs from
- Reexamine Leases in Light of Heightened Security Concerns
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The criteria for leasing suitable office space used to be straightforward and well understood location, location, location. However, concerns raised by last year's terrorist attacks may affect numerous aspects of the leasing process. Allocations of risk and responsibility between landlords
- Risk vs. Reward
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Today’s economic climate has forced both public and private sectors to think outside the proverbial box to come up with innovative financing strategies. One strategy that has recently gained popularity is the sale leaseback. The mechanics of a sale leaseback
- Recapture Clauses Help Landlords Retain Control of Properties
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Assignment and recapture clauses often are debated during negotiation of commercial real estate leases, and the relationship between the two is intertwined. In deciding whether to consent to assignments of tenants' leasehold interests, landlords frequently are required by law or
- Supreme Court Favors Property Owner Rights in Development Challenge
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In June, the U.S. Supreme Court issued a significant decision concerning inverse condemnation, or regulatory takings, in the case of Palazzolo v. Rhode Island. The ruling states that acquisition of property with notice of a prior regulation restricting its use
- Taking Issue with Taking by Regulation
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The story is familiar to property owners and legal practitioners In 1990, John and Florence Dolan attempted to obtain approval from the city of Tigard, Oregon, to replace their existing plumbing and electrical supply store in downtown Tigard with a
- Understanding Equal-Access Requirements
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When considering requirements relating to accessibility for the disabled, commercial property owners, managers, and developers must keep in mind two separate federal bodies of law the Americans with Disabilities Act and the Fair Housing Act. Although both federal acts address
- Hidden Hazards
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Rising gas prices and a highly competitive market have closed more than 3,000 of the nation&rsquo s 164,292 gas stations in the last year, the biggest drop in five years, according to National Petroleum News. In June, ExxonMobil announced it
- A Good Clause
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With almost daily reports of either blizzards in the Midwest, tornadoes in the mid Atlantic states, fires in California, or hurricanes in Florida, it's no surprise that the once benign and sometimes ignored clauses addressing "acts of God" are now
- Designation Rights
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When retail tenants are unable to honor rent payments due to bankruptcy, selling the property's designation rights may provide an alternative option for realizing the leases' value. A designation rights sale involves debtors transferring their right to decide which leases