Commercial

  • February 29, 2024

    Atlanta Retail Market Showing Record-Low Vacancies

    The vacancy rate of Atlanta's retail market has reached a new record low of 3.4% in 2023's fourth quarter due to retail space seeing consistent demand and slowed development, according to a recent Colliers report.

  • February 28, 2024

    Brothers' 20-Year Calif. Real Estate Battle Ends In $7B Verdict

    A Los Angeles jury has awarded four brothers an estimated $7 billion verdict, finding that a fifth brother breached their contracts and his fiduciary duty to them by wrongly pushing them out of various business partnerships that included thousands of units of apartment buildings and a diamond venture. 

  • February 28, 2024

    No Dearth Of Suits Against NY Bank Over Real Estate Losses

    Investor lawsuits are piling up in federal court against New York Community Bank after it reported $252 million in fourth quarter losses following its acquisitions of Flagstar Bank in 2022 and a Signature Bank portfolio last year that nearly doubled the size of the regional lender.

  • February 28, 2024

    NYC Life Sciences Sector Struggles Amid Investing Dip

    For the second year in a row, New York City's life sciences industry faced an uphill battle in making gains at the end of 2023 due to the increased federal interest rate, the looming possibility of an economic recession, investments in capital markets "drying up" and declining average asking rents, according to CBRE.

  • February 28, 2024

    Win For DC's NFL Stadium Bid As House Approves Bill

    A bill that would clear a path for the Washington, D.C., city government to build a new stadium for the NFL's Commanders on the site of the team's former stadium was passed by the full House on Wednesday and sent to the Senate, possibly paving the way for the team to return to the city.

  • February 28, 2024

    Subcontractor Seeks Sanctions In Amazon Warehouse Fight

    An electric subcontractor locked in a dispute with a construction company over delayed building of an Amazon warehouse in southern Georgia asked a Peach State federal court to penalize its opponent for "blatant discovery abuses" in the case.

  • February 28, 2024

    Atlanta Accused Of Pushing Ex-Eatery's Unlawful Demolition

    An Atlanta property owner has accused the city, its property review board, and its police in Georgia federal court of going forward with the illegal demolition of the owner's property without proper notification.

  • February 28, 2024

    Trump Can't Freeze $465M Penalty But Can Seek Loans

    A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cover the cost of the judgment.  

  • February 28, 2024

    Real Estate Group Of The Year: Hogan Lovells

    Hogan Lovells oversaw a busy 2023 that included successfully defending real estate investment trust Life Storage from a hostile takeover attempt, advising on billions in transactions in the real estate investment trust space and guiding clients to a direct listing on the New York Stock Exchange, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 28, 2024

    Kilpatrick Moving NY Office To 'Crossroads Of The World'

    Commercial real estate company Rudin said it has finalized a lease with Kilpatrick Townsend & Stockton LLP to relocate its New York City office to 3 Times Square.

  • February 27, 2024

    CARES Act Not For Violent Tenants, Court Says, Creating Split

    A Washington appellate panel said Monday that the CARES Act eviction notice only applies to tenants who are late on rent, not when landlords want to quickly oust violent tenants, in an opinion that differs from a recent ruling from another state appellate panel.

  • February 27, 2024

    Wash. Judge Asks If COVID 'Fire Sale' Should Impact Tax Plan

    A Seattle city attorney asked a Washington state appeals court on Tuesday to let the city keep a $160 million special property tax in place to fund waterfront improvements, as one judge questioned during oral arguments whether diminished property values post-pandemic should make the city recalculate the tax.

  • February 27, 2024

    La. Comfort Inn Owner Ordered To Arbitrate $2.6M Storm Suit

    A Louisiana federal judge has ordered the owner of a Comfort Inn outside New Orleans to arbitrate a $2.6 million suit against its insurer over coverage for damage from Hurricane Ida, saying its insurance policy compels arbitration.

  • February 27, 2024

    Chinese Real Estate Giant KE Holdings Gets IPO Suit Trimmed

    A New York federal judge tossed a swath of claims against Chinese real estate giant KE Holdings and its executives in an investor suit claiming they overstated the number of agents and stores on its platform, which a short seller later said was false, leading the stock price to drop.

  • February 27, 2024

    Commanders Unveil Stadium Upgrades Amid Possible Move

    The Washington Commanders on Tuesday announced a total of $75 million in upgrades to its current home stadium that includes new premium seating and a new sound system, amid a battle to determine where the NFL team will play in the future.

  • February 27, 2024

    Developer, Nonprofit Borrow $242M For Queens Properties

    Entities connected to New York City developer Gotham Organization Inc. and nonprofit RiseBoro Community Partnership borrowed a more than $242 million mortgage loan from the city's government, including its Department of Housing Preservation and Development, for a number of properties located in Queens' Long Island City neighborhood, according to official records released Tuesday.

  • February 27, 2024

    Macy's To Cut Stores, Focus On Luxury Amid Proxy Fight

    Macy's announced a plan Tuesday to close 150 stores, add new luxury-focused locations and monetize at least $600 million worth of its assets as it faces a proxy fight from activist investors that offered $5.8 billion for the company last month.

  • February 27, 2024

    Philly Gun Shop Ban Doesn't Flout 2nd Amendment

    Philadelphia's zoning code barring gun shops close to residential neighborhoods didn't violate a shooting range's Second Amendment rights, because the location of a shop isn't part of the fundamental rights covered by the amendment, a Pennsylvania appellate court ruled Tuesday.

  • February 27, 2024

    Law Firm Leasing Activity Reaches Pre-Pandemic Level

    Major firm relocations in late 2023, including Paul Weiss Rifkind Wharton & Garrison LLP's December deal for a 20-year lease in a midtown Manhattan skyscraper, helped fuel the hottest legal office space market since before the COVID-19 pandemic.

  • February 27, 2024

    McDermott Appoints 4 Real Estate Leaders in US, Germany

    McDermott Will & Emery LLP announced four new real estate practice leaders on Monday, elevating a longtime partner in Germany and three newer hires in the U.S.

  • February 27, 2024

    DC Plans $400M In Upgrades To Back Struggling Downtown

    Washington, D.C., Mayor Muriel Bowser has rolled out a plan to spend $401 million over the next five years to improve the city's downtown as it suffers from rising office vacancies and braces for two professional sports teams to leave for suburban Virginia.

  • February 27, 2024

    Real Estate Group Of The Year: Greenberg Traurig

    Greenberg Traurig LLP attorneys helped the Metropolitan Transportation Authority complete the development of a major train terminal in New York City and advised a $2 billion transaction in which a Japanese real estate firm bought a 50% stake in a Manhattan office tower, landing the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 27, 2024

    Sheppard Mullin Guides $60M Queens Construction Loan

    Sheppard Mullin represented lender Slate Property Group in connection with a $60.25 million construction loan for a mixed-use project in Queens, the law firm told Law360 on Feb. 26.

  • February 26, 2024

    Timeshare Settlement Can't Stop Additional Consumer Suit

    A Washington marketing firm must face negligent misrepresentation and consumer protection claims over links to a timeshare-exit company, according to a Washington federal judge who ruled that a group of consumers seeking refunds are not barred from suing because of a settlement in another case.

  • February 26, 2024

    NYC, Chelsea Hotel Take Shots In $100M Renovation Suit

    New York City and the owners of the historic Chelsea Hotel took swipes at each other in federal court as ongoing discovery disputes escalated in the owners' suit alleging city agencies unlawfully held up needed renovation work and cost them $100 million.

Expert Analysis

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Contract Disputes Recap: The Terms Matter

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    Stephanie Magnell and Zachary Jacobson at Seyfarth examine recent decisions from the U.S. Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals and the U.S. Court of Federal Claims, which offer reminders about the importance of including contract terms to address the unexpected circumstances that may interfere with performance.

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

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    As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • ESG Around The World: Canada

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    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

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    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • Trends That Will Shape The Construction Industry In 2024

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    Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Adjusting Deals To Reflect Shifts In The CRE Market

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    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.

  • 4 International Arbitration Trends To Monitor In 2024

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    Global growth slowed substantially in 2023, and may continue into 2024 due to geopolitical instability, which could fuel four key trends in international arbitration in the coming year, including investor-state and commercial arbitration, an increase in arbitration out of China, and more, say Gregory Litt and Sharmistha Chakrabarti at Skadden.