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May 06, 2013

Court Slams Plaintiffs in Interstate Land Sales Full Disclosure Act Case Brought Against Developer

In May 2010, I wrote a post about the serious consequences that could flow from a developer’s violation of the Interstate Land Sales Full Disclosure Act (“ILSA”).

Recently, the Second Circuit Court of Appeals rejected a purchaser’s claim that a developer’s technical violation of ILSA gave the purchaser the right to rescind their contract. » Read More

Nov 02, 2011

How A Letter of Credit Can Facilitate Commercial Lease Deals

A Letter of Credit (“LOC”) is simply an agreement from a bank guaranteeing that Party A’s payment to Party B will be received on time and for the correct amount.  LOC’s are used primarily in sizeable international trade transactions, i.e., a supplier in one country and a customer in another.   » Read More

Jul 14, 2011

IN THE NEWS: Real Estate Owners Upgrading Property As Economy Recovers

NJ BIZ reports that: Owners and property managers are back to making upgrades to technology and other improvements and maintenance to properties as the real estate market begins to improve.  “While the real estate industry came to a standstill, technology continued to advance with products and solutions that offer enhanced efficiency and functionality,” said Mike Mullin, President of Integrated Business Systems, a Totowa-based property management and accounting systems provider . » Read More

May 23, 2011

IN THE NEWS: Commercial Real Estate Predictions May Be Too Good to Be True

Mondaq reports: Recent industry reports saying that the commercial real estate is making the turn for the better are wrong.  In a nutshell, the article says these reports rely on a small sample of transactions and ignore other data.  It says a “bifurcated” market, where mostly Class A properties with long term leases are being snapped up by foreign investors, along with a number of other harsh realities is the true story of the commercial real estate market. » Read More

Apr 15, 2011

IN THE NEWS: New NJ Commercial Real Estate Record Set

NJ BIZ reports: New Jersey has new record for highest per square foot sales price for commercial real estate.  This week, Hartz Mountain Industries sold two 12-story buildings in the Colgate Center, 70 and 90 Hudson St., in Jersey City, totaling 827,318 square feet, to CB Richard Ellis Investments for $310 million, or $375 per square foot.   » Read More

Apr 05, 2011

IN THE NEWS: Hartz Sues EDA Over Panasonic Credits

NJ Biz reports: Secaucus-based real estate developer Hartz Mountain Industries has filed another lawsuit against the New Jersey Economic Development Authority, appealing the agency’s approval of $102 million in Urban Transit Hub tax credits to Panasonic.  The credits would allow Panasonic to relocate from current space in Hartz-owned building for a new building in Newark. » Read More

Feb 22, 2011

How an Owner Can Spoil a Potentially Good Damage Claim

Guest Blogger: Andrew Linden

As we discussed in our prior entry, How a Commercial Landlord Can Avoid Spoiling a Potentially Good Damage Claim, a landlord/owner has a duty to preserve evidence of alleged damages to its premises in order to avoid a claim of spoliation. » Read More

Feb 21, 2011

The Need for Exit Strategies in Your Commercial Lease

In good times and in not so good times, a well drafted and negotiated commercial lease will contain various exit strategies available to the landlord and tenant. These strategies will come in handy in situations where a tenant’s business is booming causing it to grow out of its current space (good times) or where the space is too big or expensive for the tenant to continue because business has dropped off considerably (not so good times). » Read More

Feb 14, 2011

Commercial Lease Variations

When entering into a commercial lease, one of the more important terms negotiated between the parties pertains to the manner in which the landlord will recoup its operating expenses. After all, commercial landlords are in business to make money. Without addressing its operating expenses, a landlord’s return on investment would be whittled away to nothing. » Read More

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