Commercial

  • May 23, 2024

    Fla. Broker Can't Collect Fees For $54M Real Estate Deal

    A real estate broker isn't owed a 1% commission on a $53.65 million deal despite introducing the eventual buyer, as the broker was not involved in the final sale, a Florida appeals court ruled.

  • May 23, 2024

    Ill. Justices OK $28M Tax Value Appeal Without Payment

    A power company's property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.

  • May 23, 2024

    JV Inks $48.5M Ft. Lauderdale Shopping Center Buy

    BH Group, PEBB Enterprises and Related Group have snapped up a mixed-use waterfront shopping center in Fort Lauderdale, Florida's Harbordale neighborhood for $48.5 million through a joint venture, with plans to further develop the property.

  • May 23, 2024

    MoFo Guides $100M Refi At Manhattan Office Property

    Morgan Stanley Bank NA and German American Capital Corp. refinanced a $100 million mortgage of the Feil Organization's Look Building, a New York City office building, in a deal guided by Morrison & Foerster LLP.

  • May 23, 2024

    Oakland Coliseum Sold To Black-Led Biz Group For $105M

    The City of Oakland has agreed to sell its share of the Oakland Coliseum to a group of Black community, business and investment leaders for a minimum of $105 million in a deal that the city said will pave the way for affordable housing units, outdoor space and future developments.

  • May 22, 2024

    CBRE Calls Exec's Noncompete Right Fit In A Small World

    A Texas appellate court wondered Wednesday whether a temporary injunction that seemingly bars a former CBRE executive from working in his trade anywhere in the world goes too far, and questioned the validity of the underlying noncompete agreement at the center of the legal battle.

  • May 22, 2024

    Ill. Justices Weigh Zurich's Right To Recover $3M Flood Loss

    The Illinois Supreme Court weighed Wednesday whether Zurich American Insurance Co. can recoup $3 million from a subcontractor for water damage repair costs the insurer paid to a general contractor despite Zurich filing suit on behalf of a different insured.

  • May 22, 2024

    FDIC Eyes 'Weak' Office, Mall Assets In Risk Assessment

    The Federal Deposit Insurance Corp. deemed office and retail mall asset classes 2023's "weak" points among the otherwise resilient commercial real estate property types, in a Wednesday report summarizing risks facing FDIC-insured institutions.

  • May 22, 2024

    Real Estate Firm Buys Manhattan Retail Property For $180M

    TZ Capital scooped up a luxury retail property on Madison Ave. for $180 million — nearly $100 million less than what the building last traded for, per a source familiar with the deal Wednesday — in a move that comes as midtown Manhattan's retail market sees growing deal and leasing activity.

  • May 22, 2024

    Chancery Keeps RedBird-Brookfield Dispute Stay In Place

    A Delaware vice chancellor declined Wednesday to rule from the bench on a preliminary injunction sought by Redbird Capital Partners in a dispute over a Brookfield Infrastructure Partners claim for a $150 million escrow included in its $5.7 billion purchase of RedBird data center projects last year.

  • May 22, 2024

    Texas Billionaires Building $7B City After Finding Aquifer

    The wealthy Walker family will put down $1.6 billion in cash over the next 30 years to build their own self-sufficient city after discovering access to an underground aquifer can provide more than enough water for the project, sitting 20 miles north of Laredo, Texas.

  • May 22, 2024

    Croke Fairchild Hires 2 Real Estate Attys For Chicago Office

    Croke Fairchild Duarte & Beres LLC hired Penelope Campbell and Ari Krigel as partners for its real estate practice in Chicago, the firm announced.

  • May 22, 2024

    Sullivan & Cromwell Atty Urges Cos. To Tend To Climate Data

    Public companies should not expect stakeholder concerns over climate risk to go away, even though litigation has cast a fog of uncertainty over certain disclosure rules, a Sullivan & Cromwell lawyer said Wednesday at a panel on the topic.

  • May 22, 2024

    Realty Firm Seeks Early Win In Law Firm's Suit Over Lease

    Real estate brokerage Cushman & Wakefield of Texas Inc. has urged a Texas state court to grant it an early win against law firm Polunsky Beitel & Green LLP in a suit alleging that Polunsky Beitel is wrongfully going to lose its sublease for a Houston commercial office building that will now be converted into a residential building.

  • May 22, 2024

    Wells Fargo Wants Receivership For Hotels After $52M Default

    Wells Fargo has sued American Hotel Income Properties REIT Inc. in New York federal court, claiming that the real estate investment trust's hotels should be placed into a court-ordered receivership after the REIT's affiliates defaulted on a $52.4 million loan.

  • May 22, 2024

    DC Empty Building Not Eligible For Tax Exemption, Court Says

    The owner of a vacant building in Washington, D.C., can't claim an exemption from the district's vacant building property tax rate because the owner claimed the exemption outside the allowed two-year period, the district's highest court ruled.

  • May 22, 2024

    NJ Atty Faces Fla. Suspension Over Sale Of $1.6M Painting

    An attorney suspended for one year in New Jersey last year for smuggling a $1.6 million painting out of his house to avoid an asset sale has agreed to a guilty plea accepting another yearlong suspension in Florida related to the scheme.

  • May 22, 2024

    Prologis Legal Chief To Step Down At The End Of 2024

    Prologis Inc.'s chief legal officer will retire and transition to a senior adviser role starting in January, the logistics-focused real estate investment trust said Wednesday, and another member of its legal team has been tapped to fill the position.

  • May 22, 2024

    SC Expands Abandoned Building Credit, Adds Railroad Credit

    South Carolina expanded its tax credit for the revitalization of abandoned buildings and provided an income tax credit for railroad reconstruction under a bill signed by the governor.

  • May 22, 2024

    Soured Partnership Tanks Dallas Tower Weakened By COVID

    In the fourth story in a series on distressed office properties in various U.S. markets, Law360 Real Estate Authority examines how a solid office building in an otherwise strong market — Dallas' Uptown — started showing cracks from COVID-19 and controversy.

  • May 22, 2024

    Goodwin Real Estate Atty Eyes Gov't Role In Adaptive Reuse

    Investors considering converting office buildings to a residential use are increasingly seeking more assistance from and collaboration with governments, one of Goodwin's real estate leaders told Law360 in a recent interview.

  • May 21, 2024

    Quarry Not Liable For Dirt Bike Accident, NJ Panel Says

    The owner of a New Jersey quarry long used by all-terrain vehicle enthusiasts cannot be held liable for injuries a dirt biker sustained after he struck a steel cable on the property, a state appeals court has ruled, saying the landowner installed the cable for legitimate, not malicious, purposes.

  • May 21, 2024

    Bankrupt SVB Fights To Keep $1.9B Suit Against FDIC Alive

    The bankrupt former parent company of Silicon Valley Bank urged a California federal judge on Tuesday not to toss its suit against the Financial Deposit Insurance Corp. that seeks to get the deposit insurer to return $1.93 billion, saying the FDIC has not fulfilled its obligation to turn over the company's account funds.

  • May 21, 2024

    22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

    The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Circuit, urging it to uphold a ruling that struck down the law.

  • May 21, 2024

    Variety Of Cases Propelled Rise In New Jersey Ch. 11 Filings

    The cases that have made the New Jersey bankruptcy court the second busiest in the nation have run the gamut from nationwide retail chains, major real estate players and Johnson & Johnson's mass tort talc spinoff to genetic labs and cryptocurrency platforms.

Expert Analysis

  • How Retail Tenants Can Avoid Paying Rent Prematurely

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    When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Calif. Ruling Shows Limits Of Exculpatory Lease Clauses

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    A California court's recent decision in Epochal Enterprises v. LF Encinitas Properties, finding a landlord liable for failing to disclose the presence of asbestos on the subject property, underscores the limits of exculpatory clauses' ability to safeguard landlords from liability where known hazards are present, say Fawaz Bham and Javier De Luna at Hunton.

  • Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Payment Provision Lessons From NJ Construction Ruling

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    A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.

  • Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

  • Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.