The last half of 2021 was virtually a ghost town for filing retail bankruptcies. However, the rise of the Omicron variant has significantly delayed a full return to normal for shopping centers. ...more
Less than one week into LA’s SafePass proof of vaccine requirements for businesses went into effect, the Los Angeles City Council (the “Council”) voted 10-0 to remove malls and shopping centers as covered businesses. Mall...more
Holiday Crowds – Black Friday Deals - Holiday shopping has begun! Consumers strategically making their lists and hitting the malls a month ahead of time are hopeful to avoid an expected shortfall of gift options. ...more
Following a continued decline into pessimism, retail may be coming back from the bottom of the cycle, according to the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. The current view is...more
Briefcase: Quarterly update on key real estate cases including: Pandemic Clause Included in Business Lease Renewal - ..A shopping centre lease renewal decision contains useful guidance on how the court will assess...more
Even before the pandemic, many retail stores were grappling to stay afloat as the preference of consumers to purchase goods online increased. Covid-19 obviously accelerated this trend, causing numerous shopping malls and...more
The myriad of public and private responses to the COVID-19 pandemic, including inter alia, full or partial stay-at-home orders, occupancy limits, spatial requirements and the like, have had a profound impact on the demand for...more
On March 11, 2021, the Los Angeles County Department of Public Health (the “Department”) announced an anticipated reopening of certain activities between March 15 and March 17, as L.A. County moves to the lower risk Red Tier...more
The COVID-19 pandemic abruptly changed what people need from real estate, whether it be a concert venue, a strip center, or a shopping mall. Savvy retail real estate owners who, like the Music Hall patrons, adapt to tenants’...more
During the pandemic, some real estate owners are struggling. Retail assets (other than essentials such as grocery, pharmacy, and gas stations) may experience reduced rental income as tenants go out of business. Demand for...more
With “Twit-tok” trending this weekend, you should be unsurprised to learn that Twitter has joined the group of suitors for TikTok, revealing that it’s held preliminary talks with the video-sharing app about a possible combo. ...more
Though there has been consistently high occupancy and superior rate growth in the industrial market over the past several years, the deep economic recession has caused sentiment expressed in our latest Allen Matkins/UCLA...more
The retail industry has experienced an unprecedented and immediate shift as a result of the economic fallout from COVID-19. One of the most apparent changes is evident when handling commercial retail leasing; read on to...more
On July 13, 2020, the State of California announced that, due to the surge in COVID-19 cases and hospitalizations, the following industries must close indoor operations on a statewide basis: •Restaurants •Wineries and...more
Effective May 8, 2020, the City and County of Los Angeles announced that specific retail businesses are permitted to open for online or phone orders, with curbside pickup only, including florists, toy stores, music stores,...more
Governor Ned Lamont has approved a phased reopening of Connecticut businesses. Phase 1, set to begin on May 20, 2020, will by no means, however, be a return to normal. With a mandate that everyone adhere to all social...more
In Washington: House Democrats unveiled the text of their massive $3 trillion “Phase 4” coronavirus stimulus package. H.R. 6800, the “Health and Economic Recovery Omnibus Emergency Solutions Act” or the “The Heroes Act.” ...more
When a commercial tenant leases space in a shopping center or mall, a primary consideration for the tenant is the expected benefit to their business of the foot traffic from the customers that will be attracted to the other...more
Despite [actually, more likely because of] a rash of recent closures at meat processing facilities due to COVID-19 outbreaks, the White House issued an executive order classifying the slaughterhouses as “critical...more
Shopping centers across the United States have been closed for weeks as a result of the COVID-19 pandemic and stay-at-home orders. In an effort to help flatten the curve, some shopping center owners have permitted public...more
Die Corona-Pandemie macht vor der Immobilienbranche nicht halt. Das offensichtlichste Beispiel sind die nun vielfach ausbleibenden Mietzahlungen, die Immobilieninvestoren vor Probleme stellen. Die (miet-)rechtlichen...more
The Polish government has submitted an amendment to the Law on Special Measures for COVID-19 and Crisis Prevention which, among other things, stipulates a temporary 90% rent reduction for most tenants in shopping centers. ...more