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In recent years, ground leases have gained popularity as an alternative for developers, offering more flexibility and leaner launch costs than traditional fee ownership of vacant land, pad sites, storefronts, or other...more
In commercial leases, "operating expenses" (often referred to as OPEX, CAM or Common Area Maintenance) generally cover the costs associated with the daily operation, maintenance, and repair of the property. In addition to...more
A rent-ready credit is a legal provision commonly included in a multifamily real estate purchase agreement that allows a buyer to recover turnover costs at closing. The credit is used to cover the costs needed to make vacant...more
Litigation attorney Anne Beehler and real estate attorney Andrew Starrels co-authored a Law360 article examining the Commercial Tenant Protection Act (S.B. 1103) in California that grants new rights to qualified commercial...more
It has now been just over a month since multiple wildfires erupted throughout the Greater Los Angeles area, bringing widespread devastation to the highly populated area in an event that could end up being the costliest...more
In the world of commercial leasing, the relationship between landlords and tenants and, by extension, subtenants, is at the heart of the leasing arrangement. But what happens when arrangements change and relationships shift?...more
Introduction - The U.S. federal government, through the United States General Services Administration (GSA), is the largest tenant in the country, currently leasing approximately 150 million square feet of office space and...more
In a recent case, 513 West 26th Realty LLC v. George Billis Galleries Inc., a New York Supreme Court addressed whether the COVID-era personal guaranty relief statute (the Guaranty Law) violated the Contracts Clause of the...more
For commercial landlords, ensuring that tenants return the leased premises in the agreed-upon condition is crucial to protecting their property and income. One effective way to enforce this is by making a tenant's failure to...more
We continue to be asked to explain how it is even possible that some leases can be ‘destroyed’ simply because the land being leased is sold. So, it is timely we revisit and explain this lease ‘destruction’ risk and how you...more
A landowner desiring to enter into a license agreement for the use of real property must take care to ensure that the license agreement does not contain terms that inadvertently waive the landowner’s right to recover the...more
Beginning on March 20, 2024, the new NJ law requires sellers of real property and landlords to make disclosures regarding known and potential flood risks in purchase and sale agreements and new leases and renewals. ...more
Idaho’s Supreme Court recently issued a new opinion discussing the requirements to form a valid lease agreement. Unfortunately, the case raises as many questions as it answers....more
Potential buyers and lenders evaluate existing leases of stabilized properties and anticipated lease income of value-add projects in determining which assets to acquire or finance. Rental income, whether existing or...more
There continues to be a lot of discussion throughout the commercial real estate industry about competition from online retailers and the holes created by failing and downsizing businesses that have traditionally focused on...more
Die Möglichkeit zur vorzeitigen Kündigung von langfristigen Mietverträgen bei Verstößen gegen die gesetzliche Schriftform schafft seit vielen Jahren erhebliche Rechtsunsicherheiten und Unfrieden für Immobilieninvestoren,...more
In an eminent domain proceeding, tenants of property subject to condemnation have constitutional rights to just compensation. However, those rights can be assigned to the landlord through a lease agreement. A recent...more
Many tenants move in August, so now is the perfect opportunity to refresh your memory on the rights and obligations of the parties involved (both the lessor and the lessee). ...more
Property Management Agreements (“PMAs”) have been around for years and typically follow the same format. However, the growth of the Build to Rent (“BTR”) sector has caused a re-think of the “usual” terms to ensure it reflects...more
Effective July 14, 2019, the State of New York greatly expanded tenant protections with a large package of bills covering topics ranging from rent control to eviction restrictions to rent-to-own contracts for manufactured...more
Practical completion represents the physical completion of works on construction projects. Despite its importance, it is not a legal term of art, and whether or not practical completion has been achieved requires...more
Lending you a cup of sugar, offering to watch the kids, or grilling out on a summer afternoon— whatever the activity, our neighbors are a key part of what makes our communities familiar and unique. Neighbors help make a...more