South Carolina Abandoned Building Incentives at Risk of Going Away
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
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
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
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
The commercial real estate (CRE) market in Florida, like much of the nation, is navigating significant challenges. Rising vacancy rates, increasing loan delinquencies, and tightening credit conditions have created a more...more
Your property may be subject to one of Oregon’s lesser-known property tax limits, and you may not even know it. Even better, it may be possible for you to take action to increase the likelihood that this limit will apply to...more
Earlier this summer, bipartisan legislation was introduced in the U.S. House of Representatives aimed at spurring the redevelopment of existing underutilized or vacant commercial properties and converting them for residential...more
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
Welcome to Construction & Claims, a periodic digest of the headlines, statutory and regulatory changes and court cases involving construction news, claims, bid protests, contract administration and payment-related disputes....more
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
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
The average vacancy rate for laboratory and research and development space across the top 13 U.S. life sciences markets stood at 9% in the second quarter, up more than four percentage points from a year earlier and more than...more
The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have launched the Manhattan Commercial Revitalization (M-CORE) Program to incentivize owners and...more
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
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