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Jan 12, 2015

Flag On The Play: Tortious Interference

In football, if you interfere with the receiver trying to catch the ball, that’s pass interference. In basketball, if you impede the forward progress of the player with the ball, you will draw a foul. In baseball, it is illegal to interfere with the runner between the base paths. » 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

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

Mar 29, 2011

Brownfields Redevelopment: Boom or Bust in New Jersey?

With more analysts predicting a “double dip” in real estate, the state government needs to offer generous incentives to brownfield redevelopers for their willingness to undertake such risky ventures.  Moreover, a strong brownfields redevelopment policy is consistent with preserving open space and fostering Smart Growth principles. » Read More

Dec 22, 2010

Deed In Lieu Transaction in the Commercial Real Estate Setting

The Great Recession has resulted in an inevitable increase in commercial loan defaults (See my post of November 15, 2010, “Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage“).  Any lender will tell you that it would rather avoid foreclosure for obvious reasons. » Read More

Nov 15, 2010

Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage

The Wall Street Journal recently reported that a total of $58.3 billion of the commercial-mortgage loans sliced and diced on Wall Street are currently delinquent. More than $1.4 trillion in commercial mortgages will come due by 2013, with as much as 65 percent of those deals finding it difficult to refinance. » Read More

Sep 30, 2010

Gov. Christie Goes After Red Tape

Commercial real estate owners and developers in New Jersey battered by a listless economy got some good news last week when Lt. Gov. Kim Guadagno signed Executive Order 41 to create a permanent Red Tape Review Commission to provide ongoing advice to Governor Christie on rules, regulations and other administrative processes that could hamper economic development in New Jersey. » Read More

Jul 02, 2010

COAH Reform at Impasse, Commercial Real Estate Development Fee Moratorium Expired

Commercial real estate developers again have to pay a 2.5 percent Council on Affordable Housing (COAH) fee as of July 1, 2010, because the Assembly and the Christie administration are at an impasse over COAH reform legislation.  A last-minute bill (A-3055) that would have extended the fee moratorium until October 30, 2010, passed overwhelmingly in the Assembly, but was stopped in its tracks in the Senate when the Governor warned the Senate of an outright veto.  » Read More