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Commercial Property Owners Vacant Properties

Holland & Knight LLP

Adaptive Reuse: From Desks to Doorways

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In the first episode of "Property Pointers: Real Estate Law Simplified," Real Estate attorney Jake Lebovic discusses opportunities for adaptive reuse projects in Los Angeles. He explains how converting underused office...more

Buchalter

California’s Proposed Vacancy Tax Bill Watered Down to Reporting Requirement

Buchalter on

A bill recently introduced in the California State Senate would have imposed a tax on commercial buildings that have prolonged vacancies, but has been rewritten after facing strong opposition. Authored by California State...more

Farrell Fritz, P.C.

Retail Reckoning for Suburban Strip Malls

Farrell Fritz, P.C. on

Suburban strip malls have been a staple of Long Island’s retail identity – convenient, accessible, and often anchored by big-name national chains. But, as retail trends evolve and those anchor tenants face uncertainty and for...more

Buchalter

Vacancy Tax on Commercial Property Proposed in California

Buchalter on

A recent bill introduced in the California State Senate would impose a tax on commercial buildings that have prolonged vacancies. Authored by California State Senator Caroline Menjivar, SB 789 is intended to discourage...more

Allen Matkins

Doubling Down on Retail

Allen Matkins on

With vacancy rates somewhat stable across the state, retail, residential, and other commercial functions are blending together, driven by consumer demand for convenience and offerings beyond traditional shopping. While malls...more

Cole Schotz

The 2025 Tax Appeal Review

Cole Schotz on

Continued pressures created by elevated levels of mortgage interest rates, vacancies, as well as stricter lending policies, point to higher capitalization rates, lower property values and tax appeal opportunities in 2025....more

BCLP

The High Street is Feeling the Love… Or Is It?

BCLP on

It’s “Love your High Street Week”! So, what better way to start the week than to consider two significant legal reforms announced by the government last week, that are intended to boost and revitalise the High Street...more

Allen Matkins

Sustainable Development and Land Use Update October 2024 #3

Allen Matkins on

A bid to bolster eviction protections for San Francisco’s oldest neighborhood businesses won key approval last Tuesday as city leaders contemplate a sweeping rezoning plan that stands to boost building height limits along...more

Tonkon Torp LLP

Has the Commercial Real Estate Market Hit Bottom Yet?

Tonkon Torp LLP on

On July 17, 2024 I attended a webinar hosted by First American Title about the commercial real estate (CRE) market in transition. Here are some important takeaways. In the overall economy, inflation peaked in the summer of...more

Clark Hill PLC

Will Commercial Real Estate Sink or Swim in 2024?

Clark Hill PLC on

In 2024, we anticipate that the commercial real estate industry will continue to face distress with some stabilization. This alert focuses on three subsets of the commercial real estate market: retail, office, and...more

K&L Gates LLP

Washington, D.C.'s Office of the Deputy Mayor for Planning and Economic Development Proposes Rules to Implement Downtown Real...

K&L Gates LLP on

On 26 January 2024, Washington, D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) published a Notice of Proposed Rulemaking to implement tax abatements to be made available to developers of...more

Levenfeld Pearlstein, LLC

Adapting to Shifts in 2024 Real Estate Investment Landscape

The landscape of commercial real estate investment encountered substantial hurdles in 2023. Challenges such as sluggish rent growth, reduced transaction volume, and the emergence of potential debt-related distress impacted...more

Kohrman Jackson & Krantz LLP

“Residents First” Proposal Introduced to Cleveland City Council

This month, a proposal dubbed the “Residents First Legislative Package” (the “Proposal”) was introduced to Cleveland City Council. The Proposal is aimed at combatting vacant and dilapidated buildings in the City of Cleveland...more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Moves to Establish Database of Available Commercial Real Estate Properties

What You Need to Know- •Governor Murphy is now considering legislation that would establish a Vacant Storefront Registry Program database of commercial real estate that is available for purchase or lease by small businesses...more

Hogan Lovells

UK government's rental auction plans will bulldoze normal letting processes

Hogan Lovells on

Amid strong industry objection to its proposed rental auctions scheme for vacant high street premises, the government has launched an open consultation to seek views on matters that will form part of the scheme, first...more

Wyrick Robbins Yates & Ponton LLP

Combatting Seller Impersonation Fraud with Respect to Vacant, Unencumbered Land

The Emergence of Seller Impersonation Fraud - Recent reports from various title companies and other leaders in the real estate industry show that across the United States, systematic fraudulent schemes involving...more

Hogan Lovells

UK government commits to controversial high street rental auctions of vacant premises

Hogan Lovells on

Despite industry objection to the government's proposed rental auctions scheme for vacant high street premises, the government has published draft legislation aimed at doing exactly that. ...more

Downey Brand LLP

San Francisco’s Storefront Vacancy Tax is Now in Effect

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San Francisco’s Commercial Vacancy Tax Ordinance, meant to address vacant storefronts in neighborhood commercial districts, finally became effective on January 1, 2022. Although a supermajority of voters approved the tax on...more

BCLP

Empty property rates

BCLP on

Following recent court decisions, the options available to an owner of empty business premises to avoid a liability for empty property rates have been reduced.  This matters because no rates are payable for the first...more

Bricker Graydon LLP

Important Ohio Supreme Court decision clarifies proper method to value “big box stores”

Bricker Graydon LLP on

The Ohio Supreme Court issued an important decision today clarifying the proper method under Ohio law to value big box stores - in this case, a Lowe’s store. The Ohio Supreme Court rejected the property owner’s argument...more

BCLP

Empty property rates in England; no more guarding the guardians?

BCLP on

A tax on failure - The two taxes in England on the occupation of property are non-domestic rating (business rates) and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn...more

Maynard Nexsen

South Carolina Abandoned Building Incentives at Risk of Going Away

Maynard Nexsen on

Mark Harmon, Nexsen Pruet Government Affairs Advisor, discusses upswings and downswings in the economy and how those downswings often result in the departure or closure of businesses, and subsequently, the abandonment of...more

BCLP

Empty property rates in England; guarding the guardians?

BCLP on

The two taxes in England on the occupation of property are non-domestic rating and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn annually. Rates are payable on business...more

Perkins Coie

San Francisco Adopts Vacancy Tax Ordinance

Perkins Coie on

Seeking to preserve the vitality of commercial corridors and reduce retail vacancies, San Francisco voters approved the Vacancy Tax Ordinance, which authorizes a tax assessment on vacant retail space beginning January 1,...more

Katten Muchin Rosenman LLP

Property Developers Should Beware of Greater Local Authority Scrutiny of Guardian Schemes

Owners of vacant commercial properties would do well to consider the impact of the ruling in Ludgate House Limited (LHL) v. Ricketts (VO) and London Borough of Southwark (2018), which was decided by the Valuation Tribunal for...more

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