Commercial

  • June 17, 2024

    NJ Power Broker, Firm CEO Brother Accused Of Racketeering

    Powerful New Jersey businessman George E. Norcross III and his brother who is the chief executive officer of law firm Parker McCay have been criminally charged alongside others in a scheme to acquire waterfront property in the distressed city of Camden using threats of economic and reputational harm.

  • June 14, 2024

    Russian Businessman's Fight To Enforce $92M Award Ends

    A Russian businessman's decade-long fight to enforce a $92 million arbitral award — a dispute that spurred the U.S. Supreme Court to let him forge a new path to enforcing foreign arbitral awards — finally came to an end this week, as the parties inked a settlement on the eve of a racketeering trial.

  • June 14, 2024

    Property Plays: Net Lease REIT, Vornado, Citadel

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • June 14, 2024

    Feds, Tribes Say Mill Owners Liable For 150 Years Of Pollution

    The federal government, the state of Washington and a slew of tribes are suing the owners of a shuttered sawmill and a property group that now oversee the sawmill area's development, alleging that for more than a century, hazardous substances from the operation released into Port Gamble Bay and have harmed its natural resources.

  • June 14, 2024

    BP Unit Slapped With $300M Franchise Termination Suit

    A trio of entities controlled by two self-proclaimed franchise veterans filed suit in Ohio federal court against a travel center operator acquired by BP in 2023, alleging the company terminated a franchise agreement without warning and caused at least $300 million in damages.

  • June 14, 2024

    T-Mobile Sues NJ Town Over Plan For School Cell Tower

    T-Mobile has been paying on a lease for a proposed cell tower site for nearly 14 years, but it cannot build the tower because the New Jersey town the land sits in won't approve the necessary applications, the mobile behemoth says in a new lawsuit.

  • June 14, 2024

    Citadel Expands Footprint At Soon To Open Miami Office

    Citadel expanded its footprint at a new 57-floor Class A office building in Miami, grabbing another two floors and 37,000 feet at 830 Brickell Plaza, a representative for the hedge fund confirmed Friday.

  • June 14, 2024

    Miami Tower Takes $668M In Fla.'s Biggest Construction Loan

    Kramer Levin Naftalis & Frankel LLP and Saul Ewing LLP advised developer Property Markets Group on taking out a $668 million construction loan — the largest in state history — for its Waldorf Astoria Hotel and Residences Miami.

  • June 14, 2024

    DOJ Can't Force Retroactive FARA Registration, DC Circ. Says

    The U.S. Department of Justice can't force casino magnate Steve Wynn to retroactively register as a foreign agent because his alleged lobbying efforts on behalf of China ended years ago, a D.C. Circuit panel ruled Friday.

  • June 14, 2024

    Data Center Builder Starts $10B Project In Illinois

    Sears' former headquarters in Hoffman Estates, Illinois, is being turned into a $10-billion campus that will have five hyperscale data centers, Compass Datacenters announced.

  • June 14, 2024

    Polsinelli Adds Ex-Withers Real Estate Atty In NY

    Polsinelli PC has hired a commercial real estate attorney from Withers as a shareholder in New York.

  • June 14, 2024

    Real Estate Broker Claims Lewis Brisbois Breached Deal

    A real estate broker who had exclusive rights to represent Lewis Brisbois Bisgaard & Smith LLP has slammed the firm with a breach of contract suit in California state court, alleging its abrupt termination of their deal will cost him millions in commissions.

  • June 14, 2024

    Goetz Fitzpatrick To Merge With Platzer Swergold Next Year

    Goetz Fitzpatrick LLP and Platzer Swergold Goldberg Katz & Jaslow LLP will combine forces next year to create a single New York City firm.

  • June 13, 2024

    Mich. Co. Claims Mexico Owes $2.7B For Illegal Land Grab

    A Michigan consumer products manufacturer has asked an international tribunal to order Mexico to pay it $2.7 billion, saying the country wrongfully seized 700 acres of the company's agricultural land in the Mexican state of Jalisco.

  • June 13, 2024

    NYC Sued Over Policy Targeting Unlicensed Pot Stores

    More than two dozen New York City retailers have launched a proposed federal class action against the city alleging that enforcement of a new policy targeting stores for selling cannabis without a license has resulted in the unconstitutional closing of hundreds of businesses.

  • June 13, 2024

    Monsanto Can't Plead Ignorance On PCB Pollution, Cities Say

    Chicago suburbs looking to hold Monsanto and related businesses accountable for their financial share of reducing pollutants in water that flows into Lake Michigan urged an Illinois state court to keep their case alive, arguing the companies should have known about the dangers of the chemicals in products.

  • June 13, 2024

    NJ Justices Create New Liability Rule For Property Owners

    The New Jersey Supreme Court on Thursday voted 4-3 to craft a new rule stating that owners of commercial vacant lots have a duty to maintain the public sidewalks abutting the lots, and reinstated a woman's trip-and-fall injury suit.

  • June 13, 2024

    Indicted Ex-Conn. Official Missed Gun Sale Deadline, Feds Say

    Former Connecticut state budget official Konstantinos Diamantis has missed deadlines to remove guns from his residence and claimed he couldn't locate his passport despite orders to surrender it to federal authorities while he awaits trial on bribery and extortion charges, a U.S. probation officer reported Wednesday.

  • June 13, 2024

    CRE Expert Joins Emmet Marvin's Real Estate Finance Group

    Emmet Marvin & Martin LLP announced that the firm has added a partner to its real estate finance group, bringing with her the commercial real estate expertise she gained from Cadwalader Wickersham & Taft LLP.

  • June 13, 2024

    Data Center Developer Secures Upsized $9.2B Investment

    Hyperscale data center campus company Vantage Data Centers said it has secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.

  • June 13, 2024

    Red Roof Had 'Revolving Door' For Trafficking, Ga. Jurors Told

    A former Red Roof Inn Inc. employee and the leader of a nonprofit testified Thursday about sex trafficking they saw take place at two metro Atlanta Red Roof Inn locations as part of a landmark civil trial in which 11 women allege the company knew trafficking was taking place at the locations and did nothing to stop it.

  • June 13, 2024

    Pryor Cashman Aided Developer Fraud, Owes $5.7M, Cos. Say

    New York-based law firm Pryor Cashman LLP has been hit with a $5.7 million lawsuit in state court accusing it of aiding and abetting fraud while representing a real estate developer by allegedly providing false information to another party in a transaction involving a Manhattan property.

  • June 13, 2024

    Ohio Senate OKs Requiring Tax Payments For Property Splits

    Ohio would require delinquent property taxes to be paid before a real parcel was subdivided or transferred and would prohibit tax-delinquent property owners from buying tax-foreclosed property under a bill passed by the state Senate.

  • June 13, 2024

    NYC Real Estate Week In Review

    Willkie, Latham and Milbank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw three deals north of $100 million hit records.

  • June 12, 2024

    Mississippi Casino Developer's Creditors Want To Force Ch. 7

    Creditors for developer Diamondhead Casino Corp., which has been trying for years to build a casino in Mississippi near the Gulf Coast, filed an involuntary bankruptcy petition in Delaware bankruptcy court against the company Wednesday, saying they are owed $2.4 million.

Expert Analysis

  • Considerations For Navigating Mixed-Use Developments

    Author Photo

    As mixed-use developments continue to rise in popularity, developers considering this approach to urban planning must be aware of key considerations ranging from title and zoning laws to proper engagement with stakeholders, says Mehdi Sinaki at Michelman & Robinson.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

    Author Photo

    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Compliance Primer: Foreign Investment In US Real Property

    Author Photo

    The rise in foreign investment in U.S. real property, especially agricultural land, has led to increased national security concerns, meaning it’s important to understand reporting requirements under the Agricultural Foreign Investment Disclosure Act and state-level statutes, and to monitor legislative proposals that could create more stringent reporting and review processes, say attorneys at K&L Gates.

  • How CRE Loans Would Shift Under New Bank Capital Rules

    Author Photo

    Attorneys at MoFo discuss how commercial real estate loans would fare under federal banking agencies' proposed changes to how large banks risk-weight loans, particularly how CRE loans are weighed based on the current standardized framework versus the proposed expanded approach.

  • Calif. GHG Disclosure Law Will Affect Companies Worldwide

    Author Photo

    California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.

  • What Retail Landlords Must Know About Permitted Transfers

    Author Photo

    As trying economic times require tenants to create options to cease their operations by transferring their lease obligations to other parties, retail landlords must give significant thought to how permitted transfers are drafted, and how parties are to be protected in the present and the future, says Scott Grossfeld at Cox Castle.

  • Proactive Measures While NY Foreclosure Law Is In Limbo

    Author Photo

    While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.

  • EB-5 Investment Period Clarification Raises More Questions

    Author Photo

    U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.

  • A Guide For Landlords Pivoting To Medical Office Buildings

    Author Photo

    The current commercial real estate landscape presents a unique opportunity for landlords, real estate developers and investors to accommodate the growing health care industry's need for office buildings, though proper navigation of complex regulations and leasing concerns is necessary, says Mehdi Sinaki at Michelman & Robinson.

  • NY Co-Ops Must Avoid Pitfalls When Navigating Insurance

    Author Photo

    In light of skyrocketing premiums, tricky exclusions and dwindling options, New York cooperative corporations must carefully review potential contractors' insurance policies in order to secure full protection, as even seemingly minor contractor jobs can carry significant risk due to New York labor laws, says Eliot Zuckerman at Smith Gambrell.

  • What To Consider When Converting Calif. Offices To Housing

    Author Photo

    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • Ch. 12 Ruling Is A Helpful Addition To Interest Rate Case Law

    Author Photo

    In its recent In re: Topp ruling, the Eighth Circuit addressed the question of which rate of interest debtors should pay under a bankruptcy plan, showing that the choice of interest rate plan is a factual issue subject to appellate review for clear error, and not a legal issue subject to de novo review, says Donald Swanson at Koley Jessen.

  • Appellate Rulings Highlight Telecom Standard Uncertainties

    Author Photo

    Two recent contrasting appellate opinions in Cellco v. White Deer Township and NMSurf v. Webber — interpreting Sections 332 and 253 of the Communications Act, respectively — demonstrate the continuing uncertainty carriers face when challenging state and local requirements that may impede their provision of telecommunications services, say attorneys at Davis Wright.