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Joining several other state and federal decisions from around the country, the Arizona Court of Appeals ruled that the COVID-19 pandemic and subsequent state restrictions and shutdown orders were not excuses for tenant Fitness International to miss their rent payments to its landlord Vereit Real Estate under its commercial lease.
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Second Circuit Likely to Deliver Big Win for Commercial Shopping Center Lessor
By Michael L. Cook
The U.S. Court of Appeals for the Second Circuit, on remand from the Supreme Court, further remanded to the district court the key issue of whether the Chapter 11 debtor gave “adequate assurance of future performance of” a commercial real property shopping center lease “as required by the Bankruptcy Code after the debtor’s assignment of its lease.
Adaptive Reuse of Vacant Office Buildings
By David Freylikhman and Sarah E. Michigan
While transforming existing buildings for alternative purposes is not a new concept, this article seeks to explore the feasibility of alternative repurposing options with a focus on pre-existing office buildings; namely, converting vacant office space into vertical farms or cannabis growth operations.
Is A Real Estate Instrument Filing Fee An Unauthorized Tax?
By Cameron Macdonald
Local governments have significant leeway to charge fees for services they provide their residents. But fee revenue sources can be attractive options for those local governments needing to fill budget gaps without raising taxes.
Climate Issues Becoming More Critical for Commercial Real Estate Development
By Richard Berger
Considerations for severe weather and climate, in general, have real estate developers putting more focus on how they build and operate. But add to that rising insurance rates, which have dealt a big blow to budgets as premiums continue to climb.
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