Commercial
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September 09, 2024
Siemens To Build $60M Bullet Train Production Facility In NY
Siemens Mobility will build a $60 million bullet train production facility in Horseheads, New York, that is set to start operating in 2026, according to an official announcement Monday.
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September 09, 2024
NY Lends $144M Mortgage To Pace University
The Dormitory Authority of the State of New York loaned a $144.63 million mortgage to Pace University, according to official property records filed Monday.
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September 09, 2024
AIG Unit Sees Recovery Funds Dispute With RealPage Pared
A federal judge trimmed a lawsuit an AIG unit filed seeking to recover over $1 million it paid to property management software company RealPage after a phishing attack, rejecting both the insurer's stance that the covered fees fell under a recovery provision and RealPage's accusations of Texas Insurance Code violations.
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September 09, 2024
Kramer Levin Beats NJ Malpractice Suit From RE Developer
Kramer Levin Naftalis & Frankel LLP has defeated a malpractice suit from a real estate developer who claimed it represented both the developer and a firm partner's son — who was an employee of the developer — at the same time, according to a New Jersey state appellate decision issued Monday.
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September 09, 2024
NYC Real Estate Week In Review
Berliner & Pilson and Jeffrey Zwick are among the law firms that steered the largest New York City real estate deals that hit public records last week, a slow holiday-shortened period that saw only one matter above the $25 million mark become public.
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September 09, 2024
Bargain Retailer Big Lots Hits Ch. 11 With Sale In Sights
Discount retail chain Big Lots filed for Chapter 11 protection Monday in Delaware with $556 million of secured debt and plans to shutter more than 300 stores while it works to complete a $620 million deal to sell the rest of its business as a going concern.
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September 06, 2024
Attys Urge Justices To Shield Corporate Veil In TM Case
More briefs landed Friday in the "Dewberry" trademark case currently before the U.S. Supreme Court — this time, from two groups of intellectual property lawyers who are concerned about the use of the Lanham Act to "pierce the corporate veil."
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September 06, 2024
Plan Pitches 1,700 Units For Vacant San Jose Golf Course
Local officials are fielding a developer's request to build some 1,700 housing units on a vacant golf course in east San Jose, California, which is one of the largest development sites in the Silicon Valley area.
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September 06, 2024
Property Plays: Faropoint, EPA, Lendlease
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
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September 06, 2024
Elections Haven't Had Much Immediate Real Estate Impact
The past six presidential elections have not had much immediate impact on commercial real estate investment, according to a report out this week from brokerage firm CBRE.
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September 06, 2024
Real Estate PE Firm Acquires Texas Industrial Park
Harbor Capital bought a 606,911-square-foot Class B industrial park in Texas' Dallas-Fort Worth area, the real estate private equity firm announced.
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September 06, 2024
Red Lobster Landlord Sues Zurich Over $1.2M Fire Payment
The owner of a property leased to Red Lobster said a Zurich unit negligently failed to name the owner on settlement checks issued to the eatery after a fire, telling a New Jersey federal court the failure allowed Red Lobster to avoid using the $1.2 million to make repairs.
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September 06, 2024
Honigman Adds Real Estate Partner From Goodwin Proctor
Honigman LLP said on Friday it has hired Christopher Mull, who previously worked as an associate at Goodwin Proctor LLP, as a partner in its real estate transactions practice group in Ann Arbor, Michigan.
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September 05, 2024
TikToker Conned Followers With Real Estate Fraud, Feds Say
A social media influencer faces criminal charges and a suit from the U.S. Securities and Exchange Commission after he allegedly made false claims to investors that money put into purported real estate projects would earn them passive income.
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September 05, 2024
TM Ruling Creates Way To Pierce Corporate Veil, Justices Told
A conservative legal group says that a Fourth Circuit ruling the justices have agreed to review over a $43 million trademark award in a fight between two businesses that use the name "Dewberry" provides a new way to pierce the corporate veil that "veers far from acceptable legal principles."
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September 05, 2024
SQRL Store Chain Landlords Want Out Of Ch. 11 Stay
The landlords of 30 SQRL fuel station and convenience store locations are urging a Texas federal bankruptcy court to allow them to avoid an automatic stay that they allege is blocking them from taking ownership of the SQRL locations for themselves.
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September 05, 2024
LA Developer Beats RICO Suit Over CEQA Fight At 9th Circ.
The Ninth Circuit affirmed Thursday a decision tossing a Hollywood hotel developer's $100 million racketeering suit against rival hotel developers, rejecting the plaintiff developer's allegations that its competitors had pursued "objectively baseless" sham California Environmental Quality Act litigation to extort the firm.
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September 05, 2024
Lowenstein Sandler Reps Applied Digital In $160M Financing
Applied Digital Corp., advised by Lowenstein Sandler LLP, will receive $160 million in private placement financing from technology company Nvidia and real estate firm Related Cos., the digital infrastructure developer said on Sept. 5.
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September 05, 2024
NJ To Offer Brownfield Tax Credits For Solar Projects
New Jersey will bolster its tax credits for its brownfields redevelopment incentive program and grant tax credits to solar energy projects built on closed landfills as part of a bill signed by Gov. Phil Murphy.
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September 05, 2024
Developers Selected For $900M Mixed-Use Project In DC
Washington, D.C., has picked a team of developers to work on a 202,758-square-foot land parcel that's part of the district's more than $900 million St. Elizabeth's East campus redevelopment, the city's mayor announced.
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September 05, 2024
Texas Real Estate Group Lands Veteran In-House Atty As GC
Austin, Texas-based real estate investment and development platform The Amherst Group has hired a new general counsel with 20 years of experience in real estate, including more than a decade of in-house work under his belt.
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September 05, 2024
EPA Unveils $151M Cleanup Plan For NJ Superfund Site
The U.S. Environmental Protection Agency announced Thursday a $151.1 million deal to cover the federal agency's past and future costs of cleanup at a New Jersey superfund site with high levels of lead contamination.
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September 04, 2024
Leech Tishman Combines With Calif. Firm Nelson Hardiman
Leech Tishman is set to add California-based healthcare and life science law firm Nelson Hardiman's 17 attorneys to its Los Angeles office this fall and will do business in the Golden State under the combined name Leech Tishman Nelson Hardiman, the firm announced Tuesday.
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September 04, 2024
4th Circ. Sets Legal Hemp Standard In THC Firing Case
A split Fourth Circuit panel on Wednesday set a standard for the legality of hemp products, although it still found that a real estate company worker claiming she was illegally fired for testing positive for a THC substance didn't back her disability bias claims.
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October 23, 2024
Turning Tides: Real Estate's Impending Insurance Crisis
Climate risk, once an abstract concept, is now a stark reality in the real estate industry as damage from stronger and more frequent weather events portends a drastic correction in the property insurance market. This series explores state and local government efforts, shifting investor behavior, and home-buying trends as the climate-driven insurance crisis bubbles to the surface.
Expert Analysis
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Level Up Lawyers' Business Development With Gamification
With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.
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NY, NJ Regs Give Clarity To Cannabis Investors, Ancillaries
Proposed laws and regulations in New York and New Jersey would clarify some previously murky legal waters, thus expanding the ability of investors, lenders and ancillary service providers to work with marijuana business in these states, say David Waxman and Heidi Urness at McGlinchey Stafford.
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5 Ways Firms Can Rethink Office Design In A Hybrid World
As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.
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What To Expect From High Court's Whistleblower Case
The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will likely have widespread implications for the future of anti-retaliation whistleblower litigation, and could make it more difficult for would-be whistleblower-employees to succeed on anti-retaliation claims under the Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at Sullivan & Cromwell.
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RICO Ruling Makes US More Attractive Foreign Creditor Forum
The U.S. Supreme Court's decision in Yegiazaryan v. Smagin, allowing a foreign plaintiff to use the Racketeer Influenced and Corrupt Organizations Act to enforce a foreign arbitral award, will make judgment creditors more likely to seek out U.S. courts to remedy efforts to frustrate the enforcement of international arbitration awards, say attorneys at Paul Hastings.
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5 Strategies For Restructuring Underperforming CRE Loans
With commercial real estate industry conditions expected to deteriorate further in the coming months, market participants should consider a number of strategies to help resolve challenged investments, ranging from financial restructurings to project phasing, say attorneys at Ballard Spahr.
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Ghosting In BigLaw: How To Come Back From Lack Of Feedback
Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.
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Post-Ciminelli Predictions On Right-To-Control Convictions
The recent Second Circuit filings in Binday suggest that the government will fight to preserve its right-to-control convictions in the wake of the U.S. Supreme Court's Ciminelli decision, and offer clues about key issues that will drive post-Ciminelli litigation, say attorneys at Debevoise.
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Steps To Success For Senior Associates
Excerpt from Practical Guidance
Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.
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How To Avoid A Zombie Office Building Apocalypse
With national office vacancy rates approaching 20%, policymakers, investors and developers will need to come together in order to prevent this troubling trend from sucking the life out of business districts or contaminating the broader real estate market, say Ryan Sommers and Robyn Minter Smyers at Thompson Hine.
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Legal Profession Must Do More For Lawyers With Disabilities
At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.
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Appellate Funding Disclosure: No Mandate Is Right Choice
The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.
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A Clearer Path To Speedy Guaranty Litigation In NY Courts
Recent cases indicate that New York's Appellate Division, First Department, is shifting its stance regarding when agreements with both monetary and nonmonetary obligations qualify for expedited litigation, and highlight best practices for drafting guarantees and notes, say Joshua Kopelowitz and Bansari Sheth at Fox Rothschild.