News & Analysis as of

Commercial Leases State and Local Government

Burr & Forman

Important Update: Florida Sales Tax Reduction on Commercial Leases

Burr & Forman on

As of June 1, 2024, the State of Florida reduced the state sales tax rate on commercial real property lease payments from 4.5% to 2%. All commercial leases with an occupancy period that started on or after June 1, 2024 will...more

DarrowEverett LLP

What Florida Sales Tax Cut Means for Florida Commercial Tenants

DarrowEverett LLP on

Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically,...more

Ballard Spahr LLP

Five Things Every Office Building Owner (and Its Lender) Should Consider

Ballard Spahr LLP on

The drumbeat of the challenges facing almost every corner of the office building market should be loud and clear to owners and lenders. For some, the current situation is dire, while for others it will likely worsen in the...more

Shutts & Bowen LLP

Pith? Perfect for Lienors, Not So Much for Landlords: Protecting Rights When Improvements Are Made to Commercial Tenancies

Shutts & Bowen LLP on

Have you ever heard the strange term “pith of the lease”?  This odd designation, apparently unique to Florida law, describes improvements to commercial tenancies that are essential or “vital to the lease’s perpetuality.” ...more

Allen Matkins

Life Sciences Real Estate Update - 7.18.23

Allen Matkins on

California was, by January 1, 2023, home to nearly 470,000 jobs that generated $413.7 billion in total business output in 2022, according to Biocom California’s 2023 Economic Impact Report. This represents a nearly 8 percent...more

Tarter Krinsky & Drogin LLP

New York City’s “Guaranty Law” is Held to be Unconstitutional and Unenforceable

In a highly-anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York ruled on March 31, 2023, in Melendez v. City of New York, that New York City's Guaranty Law is...more

Cozen O'Connor

Broad Street Brief: High-Profile Democrats Visit Philadelphia as Midterms Draw Closer; New Trends In Urban, Suburban Real Estate

Cozen O'Connor on

President Biden, Vice President Harris Visit Philadelphia to Support Pennsylvania Democrats; Presidents Biden, Obama to Visit (Again) This Saturday....more

Stark & Stark

Philadelphia’s Commercial Activity License

Stark & Stark on

Companies that do business in the City of Philadelphia are required to obtain a Commercial Activity License from the City’s Department of Licenses and Inspections (L&I). While there are some exceptions, your company will...more

Obermayer Rebmann Maxwell & Hippel LLP

Commercial Leasing and the Cannabis Market

​​​​​​​Currently, 38 states (including Pennsylvania and New Jersey) have legalized the use of marijuana for medical use and 19 states (including New Jersey) have legalized its use for recreational purposes. However, under...more

Miller Canfield

How Michigan's New Assignment of Rents Act Affects Commercial Tenants

Miller Canfield on

The Michigan Uniform Assignment of Rents Act (MUARA) will take effect on September 22, 2022, and has important implications for a tenant's rights. If a tenant's landlord defaults on its loan, to whom must the tenant pay rent,...more

Sands Anderson PC

Reasons Why a Real Estate Transaction with a Local Government May Take So Long

Sands Anderson PC on

When an Industrial Development Authority, sometimes called an Economic Development Authority (IDA/EDA), purchases or sells real property, the transactions look much like any transaction with any other entity landowner....more

Royer Cooper Cohen Braunfeld LLC

The Do’s and Don’ts of Leasing Medical Marijuana Dispensaries in Pennsylvania

Nearly five years ago, Pennsylvania Governor Tom Wolf signed into law Pennsylvania’s Medical Marijuana Act (Act 16). Since that time, the Pennsylvania Department of Health (DOH), the agency responsible for issuing licenses...more

Perkins Coie

San Francisco Board of Supervisors Enacts a New Commercial Eviction Moratorium Ordinance - Update #2

Perkins Coie on

On December 1, 2020, the San Francisco Board of Supervisors unanimously approved a commercial eviction moratorium ordinance (the Board Ordinance), which Board Ordinance came into effect on January 11, 2021. When the Board...more

Lowndes

Property Buyer Beware: Avoid Costly Tax Liabilities with a Sales Tax Clearance Letter

Lowndes on

Florida imposes sales tax on rent payable under commercial leases. The rate imposed by the state is 5.5%, but local governments have the right to impose a surtax which varies based on the jurisdiction....more

Lowndes

New Florida Law Expected to Significantly Reduce Florida’s Commercial Lease Sales Tax Rate

Lowndes on

On April 19, 2021, Florida Governor Ron DeSantis signed into law Senate Bill 50 (SB 50), which amends portions of Chapter 212, Florida Statutes. SB 50 is slated to significantly reduce Florida’s commercial leasing sales tax...more

Lowndes

Hillsborough County Commercial Lease Sales Tax Rate Reduced by Recent Florida Supreme Court Decision

Lowndes on

A recent Florida Supreme Court decision found that the Hillsborough County 1% transportation sales surtax is unconstitutional. As a result, the decision reduced the sales tax rate on commercial lease payments in Hillsborough...more

Best Best & Krieger LLP

Calif. Cities Can Still Impose Commercial Eviction Moratoriums

Executive Order Extends Authorization - Many local governments took a collective sigh of relief when California Gov. Gavin Newsom signed Executive Order N-03-21, extending local authorization to impose commercial eviction...more

Morrison & Foerster LLP

New York State Passes Legislation To Extend Eviction And Foreclosure Relief For Small Business Commercial Properties

On March 9, 2021, New York Governor Andrew Cuomo signed into law the New York State COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A/A3207) (the “Act”). After a full year of commercial tenants and commercial...more

Blank Rome LLP

New Jersey Eases Restrictions on Commercial Evictions

Blank Rome LLP on

In response to the COVID-19 pandemic, in March 2020 the New Jersey Courts postponed all commercial landlord/tenant trials and barred the issuance of Writs of Possession arising out of Final Judgments in Foreclosure in...more

Shutts & Bowen LLP

How Big Changes Coming to Flood Insurance Will Affect Commercial Property in Florida

Shutts & Bowen LLP on

The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP). The NFIP offers insurance coverage for physical losses to buildings and/or contents caused by a flood. Over the years,...more

Sheppard Mullin Richter & Hampton LLP

Southern District of New York Upholds New York City Council COVID-19 Tenant Protection Ordinances

On November 25, 2020, Judge Ronnie Abrams of the United States District Court for the Southern District of New York issued a decision in Melendez, et al. v. The City of New York, et al. (No. 20-CV-5301 (RA) upholding...more

Stoel Rives LLP

Stoel Rives Fifth Updated Guide to Washington State Eviction Moratoria and Tenant Protections

Stoel Rives LLP on

In response to the COVID-19 crisis, many jurisdictions took emergency actions imposing moratoria on residential and commercial evictions affecting properties in Washington State. On March 27, Stoel Rives prepared a guide...more

Seyfarth Shaw LLP

Recent Federal Court Decision Upholds the Constitutionality of NYC Pandemic-Related Legislation Affecting Commercial Leases

Seyfarth Shaw LLP on

The United States District Court for the Southern District of New York recently found that three laws enacted by the City of New York in response to the COVID-19 pandemic were constitutional, and dismissed a challenge to the...more

Morrison & Foerster LLP

SDNY Upholds NYC Law Prohibiting Enforcement Of Personal Liability Provisions For COVID-19-Impacted Commercial Tenants

On November 25, 2020, the Southern District of New York upheld Section 22-1005 of the New York City Administrative Code, which renders personal guaranties contained in leases unenforceable for commercial tenants impacted by...more

Shutts & Bowen LLP

What to Expect Next in the Post COVID-19 Real Estate Market

Shutts & Bowen LLP on

The pandemic has significantly impacted the real estate sector. With a surge in the number of employees who work from home, the demand for office space has softened. At the same time, growth in e-commerce has exploded,...more

64 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide