While it is likely that the long-term impact of COVID-19 on commercial real estate will be significant, the short-term effect may be to accelerate sector and geographic trends that were already prevalent before the pandemic emerged.
Taking a pulse on the impact of the pandemic on all sectors of global commercial real estate, valuation firm Duff & Phelps, in conjunction with the GRI club, surveyed over 300 directors on the state of affairs.
The Ninth Circuit Court of Appeals' recent decision in City of Portland v. Unites States significantly affects the ability of local governments to regulate the installation of so called "small cell" wireless facilities and addresses the ability of wireless providers to utilize utility poles.
Even though payment of post-petition rent under a nonresidential lease (prior to rejection) has historically been an absolute requirement, bankruptcy courts, as courts of equity, have the ability during these extraordinary times to take a more flexible approach.
Part One in a Series Over the years, the city government has amended the Philadelphia Zoning Code to include incentives to increase the amount of housing units as well as the size of such building structures. Over the course of several articles, we will be discussing the "zoning" bonuses a property owner can take advantage of when developing a property within city limits. This part delves into the Mixed Income Housing Bonus, Green Roof Bonus, and the Fresh Food Market Bonus.
Neighbors Who Used Concrete Platform Adjacent to Fence Established Title By Adverse Possession Lawyer Who Failed to Terminate Contract in Accordance With Seller's Instructions Did Not Commit Legal Malpractice Developer Strictly Liable for Damages Caused By Excavation Contract Vendee Who Did Not Seek Mortgage In Its Own Name Failed to Comply with Mortgage Contingency Clause
Fine for Refusal to Remove Dogs Upheld Under Business Judgment Rule
Few landlords and commercial tenants have been completely immune from the governmentally imposed economic shutdown and COVID-19's wrath. Not including what may have been negotiated in a commercial lease, there are three traditional theories under which commercial tenants could seek to assert entitlement to forgiveness of their rent.
Development Consistent With Zoning Ordinance Did Not Require Referral to ZBA Development Agreement Constituted Impermissible Contract Zoning
Even though payment of post-petition rent under a nonresidential lease (prior to rejection) has historically been an absolute requirement, bankruptcy courts, as courts of equity, have the ability during these extraordinary times to take a more flexible approach. This clearly is an evolving trend that should continue for at least the duration of the pandemic and perhaps beyond, as bankruptcy judges and practitioners seek out creative and unique responses to difficult issues.
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