Commercial
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April 15, 2025
Brooklyn Office Space Seeing Leasing Surge, CBRE Reports
New York City's borough of Brooklyn went through "a surge of leasing" for office space after a total of 509,000 square feet was leased in Q1 2025, according to a CBRE report published Tuesday.
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April 15, 2025
Brookfield Lands $1.3B From Citibank For Hudson Yards Office
Brookfield Properties secured $1.25 billion in financing from Citibank on its 16-story Five Manhattan West building in a transaction advised by Dechert LLP and Fried Frank Harris Shriver & Jacobson LLP.
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April 15, 2025
NY Developers Land $237M Refi For Major Mixed-Use Project
The developers behind a 70-acre mixed-use development in Sleepy Hollow, New York, secured a $237 million refinancing for the project from Hudson Bay Capital, per an announcement from Walker & Dunlop which arranged the financing.
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April 15, 2025
Top Grossing Cos. Drift Further From Remote-First Work
The largest companies in the U.S. by revenue are moving away from allowing employees to work primarily at home, including among technology businesses, which were formerly much more permissive of telework, according to a recent report.
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April 15, 2025
Mich. Tribunal Rejects Hotel's Challenge To $10M Valuation
A hotel owned by a Hilton franchisee was valued at $10 million by the Michigan Tax Tribunal, agreeing with a local assessor and reducing a previous valuation by $2.2 million but rejecting a further reduction sought by the owner.
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April 15, 2025
NY Panel Finds 'Lockbox' Suit Differs From Hotel Foreclosure
A split New York state appeals court has found that U.S. Bank can pursue its litigation seeking to seize a "lockbox" of rent payments for a Manhattan hotel, with one justice arguing in a dissent that the instant lawsuit improperly duplicates a related but separate foreclosure action.
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April 15, 2025
DC Maintains, Expands Tax Exemptions For NBA, NHL Arena
The District of Columbia maintained and expanded tax breaks for the property and airspace of Capital One Arena, home to the NBA's Washington Wizards and NHL's Washington Capitals, as part of legislation that became law, according to a notice published in the district's register.
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April 15, 2025
Moye White Says It Was Evicted To Make Way For Tech Co.
Defunct law firm Moye White LLP is fighting back in Colorado state court against its Denver landlord's nearly $4 million lawsuit, alleging in counterclaims that the landlord unlawfully evicted the firm and its subtenants from a downtown office building in order to make room for a technology business.
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April 15, 2025
Giordano Halleran Nabs Real Estate Pro For NJ Expansion
Giordano Halleran & Ciesla PC announced that the firm has added a commercial real estate transaction pro as shareholder, who is spearheading the firm's opening of an office in northern New Jersey.
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April 14, 2025
Expedia Defends Cuban Island Bookings In Helms-Burton Trial
The former manager of Expedia's Cuba group took the stand Monday to defend the travel company's actions offering reservations for resorts on an island off the coast of Cuba that a Cuban-American man says was stolen from his family by Fidel Castro's government, telling jurors the company worked to comply with constantly changing regulations related to travel to Cuba.
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April 14, 2025
6th Circ. Upends Oil Co.'s Injunction Against Ohio Landowner
The Sixth Circuit on Monday reversed a district court's preliminary injunction that gave EOG Resources Inc. access to the surface of an Ohio deer hunting site for drilling operations, saying the injunction didn't prevent injury to EOG but actually caused the owner of the property irreparable harm.
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April 14, 2025
4th Circ. Partly Backs $3.8M Award In 'Dickensian' Lease Row
The Fourth Circuit on Monday partly affirmed and partly vacated a $3.8 million costs and fees award stemming from a soured lease agreement for a commercial building in Baltimore, potentially concluding more than 14 years of what the panel described as "Dickensian litigation."
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April 14, 2025
Allianz Unit Challenges Augusta Golf Club's $2.4M Award
Allianz SE subsidiary Fireman's Fund Insurance Co. on Friday asked a federal judge to strike down a $2.4 million storm damage appraisal in favor of an Augusta, Georgia, golf club that the insurer said goes far beyond what it agreed to cover.
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April 14, 2025
Northwind Lends $90M To Fund 32-Story NYC Office Deal
Northwind Group, a Manhattan-based real estate private equity firm, has provided a $90 million senior first-mortgage loan for a joint venture's acquisition and pre-development of a 32-story, Class A New York City office building that is planned to be converted into apartments, according to a statement.
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April 14, 2025
Developer Buys 1.2M Square Feet Of Texas Industrial Space
Hillwood Investment Properties announced that the industrial real estate company has recently acquired four buildings spanning about 1.2 million square feet across the greater Dallas-Forth Worth metropolitan area.
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April 14, 2025
NJ Casino To Wrap Up Hotel Refresh With $50M In Upgrades
Ocean Casino Resort on Monday said it is planning more than $50 million in improvements to its Atlantic City, New Jersey, property this year that will add 500 new hotel rooms.
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April 14, 2025
Real Estate-Focused SPAC Prepares For $200M IPO
Special purpose acquisition company Timber Road Acquisition Corp. filed documents on Monday that outlined its plans for a $200 million initial public offering in search of merger targets in real estate and consumer industries, with Reed Smith LLP representing the company and Loeb & Loeb LLP as counsel for an underwriter.
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April 14, 2025
Pierson Ferdinand Adds Real Estate Litigator To Philly Office
Pierson Ferdinand LLP continued to grow its Philadelphia roster with the recent addition of a real estate attorney, the firm's second lateral hire in the city in less than a week.
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April 14, 2025
Jacksonville Office Market On The Rebound, CBRE Says
The office market in Jacksonville, Florida, is rebounding because of a major jump in transactions in Q1 2025, CBRE said in a recent report.
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April 14, 2025
NYC Real Estate Week In Review
Simpson Thacher and Seyfarth Shaw are among the law firms that landed work on the largest New York City real estate transactions that hit public records last week, a period that saw sizable transactions across three boroughs.
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April 14, 2025
Ala. High Court Says Condo Incorrectly Classified
An Alabama condominium unit owned by a limited liability company was put in the wrong property class by a trial court, the state's Supreme Court said, because it was not exclusively used as a dwelling by the LLC.
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April 14, 2025
Broward Industrial Demand Steady Even As New Projects Stall
A 15-year streak of positive net absorption in Broward County, Florida's industrial market continued in the first quarter in a sign of resilience, even as development activity tailed off, with no new groundbreakings to start 2025, according to CBRE.
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April 11, 2025
GAO Backs Feds' Setback, Co-Location Terms In Lease Deal
The U.S. Government Accountability Office said the General Services Administration reasonably set colocation and setback requirements in a request for lease proposals to house several agencies in one Wilmington, North Carolina, building, denying a protest that challenged the terms as unnecessary and overly restrictive.
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April 11, 2025
Investor Properly Obtained Tax Liens, Conn. Justices Rule
An investor specializing in tax liens properly obtained assignments from a Connecticut city before seeking to force a social club's property into a foreclosure sale, the state's Supreme Court ruled on Thursday, criticizing how the case unfolded and clarifying a lower ruling that muddied the burden of proof.
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April 11, 2025
Seattle Port Says Housing Project 'Poor Fit' In Industrial Core
The Port of Seattle has gone to court to block a rezoning ordinance that allows nearly 1,000 new residential units near the city's sports stadiums, a project the port said threatens to snarl the nearby movement of cargo from a seaport that is a key driver of the region's economy.
Expert Analysis
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Dewberry Ruling Is A Wakeup Call For Trademark Owners
The U.S. Supreme Court's decision in Dewberry v. Dewberry hones in on the question of how a defendant's affiliates' profits should be treated under the Lanham Act, and should remind trademark litigants and practitioners that issues involving monetary relief should be treated seriously, say attorneys at Finnegan.
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How GSA Lease Clauses May Affect DOGE Terminations
The Department of Government Efficiency has begun to cut the U.S. General Services Administration's enormous real estate portfolio, but some standard lease clauses include limits helpful to landlords that may slow progress toward the administration's cost-cutting goals, say attorneys at Pillsbury.
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What SDNY Judge Can And Can't Do In Adams Case
The federal judge in the Southern District of New York overseeing the criminal case against New York City Mayor Eric Adams deferred making a decision on the government's motion to dismiss the indictment, and while he does have limited authority to deny the motion, that would ultimately be a futile gesture, says Ethan Greenberg at Anderson Kill.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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As EPA Backs Down, Expect Enviros To Step Up Citizen Suits
As President Donald Trump's U.S. Environmental Protection Agency draws down federal enforcement efforts, environmental groups will step into the void and file citizen suits — so companies should focus on compliance efforts, stay savvy about emerging analytical and monitoring methods, and maintain good relations with neighbors, say attorneys at Beveridge & Diamond.
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Emphasize Social Spaces During RE Project Public Review
As Boston continues to work through revisions to its public review process for real estate projects, developers attempting to balance impact mitigation and community improvements may benefit from emphasizing the ways in which development plans can facilitate open social exchange, says David Linhart at Goulston & Storrs.
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What Contractors Can Do To Address Material Cost Increases
In light of the Trump administration's plans to increase tariffs on Mexico, Canada and China, construction industry players should proactively employ legal strategies to mitigate the impacts that price increases and uncertainty may have on projects, says Brenda Radmacher at Seyfarth Shaw.
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Reg Waiver Eases Calif. Rebuilding, But Proceed With Care
California Gov. Gavin Newsom's executive order suspending some environmental review and permitting requirements for the reconstruction of homes and businesses damaged by recent wildfires may streamline rebuilding efforts, but will require careful navigation of the evolving regulatory landscape, says Gregory Berlin at Alston & Bird.
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Insurance Considerations For LA Wildfire Recovery
Businesses and homeowners affected by the destructive Southern California wildfires must act swiftly and strategically to navigate the complexities of the insurance recovery process, including by identifying all applicable policies, documenting damage thoroughly and keeping abreast of relevant state law, say attorneys at Morgan Lewis.
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LA Wildfires' Effect On Calif. Insurer Of Last Resort
Attorneys at Willkie discuss the background of California's insurer of last resort — known as the Fair Access to Insurance Requirements Plan — and examine the process of assessing member insurers and relevant recent property insurance market developments in light of the destruction from the ongoing Los Angeles wildfires.