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Los Angeles Real Estate Law Blog

Interest in office property featuring commercial leases purchased

A real estate firm recently purchased a condominium interest in California. Swift Real Estate acquired an interest in an office asset spanning more than 219,000 square feet in San Francisco. These properties featuring commercial leases remain in demand in other parts of the state as well, including in Los Angeles.

The real estate firm paid more than $109 million for the condo interest, which Broadreach Capital owned after purchasing it for more than $42 million back in 2007. The property, which was renovated at that time, features retail space on the ground level and houses noteworthy tenants, including the City of San Francisco and Twitter. San Francisco in 2017 renewed a lease for more than 69,000 square feet, which it is using for its city attorney's office.

Construction defect may spark real estate litigation

Naturally, homeowners in Los Angeles and throughout California take pride in the places they call home. Unfortunately, not all homes are built up to standard. If a home features construction defects that could have -- and should have -- been avoided, grounds for real estate litigation may exist.

Construction defects are conditions in homes that decrease their value. Sometimes a defect is obvious -- for example, the seepage of water. Meanwhile, other defects are not as obvious; in fact, they might become apparent only years after the house was built.

Managing the risks of construction with the right insurance

When you bid on a construction project, you expect that everything will go according to plan. At the end of the job, you may find that you were right, but what do you do if you are wrong? The construction industry is fraught with risks and hazards, and you could find yourself facing liability for a variety of mishaps and issues.

In fact, construction liability insurance is often a prerequisite for receiving a construction contract. When searching for the right coverage, it may help you to know that you can negotiate the terms of your policy. With the right help, you could end up with an affordable policy that covers your concerns and contains policy limits with which you can live.

Technology shaping world of commercial leases

The real estate world is a constantly changing industry in Los Angeles and elsewhere. Technology is driving much of this change. Fortunately, many of these changes have the potential to help those who own properties featuring commercial leases.

Specifically, efforts are being made to provide real estate property management companies tools that can boost productivity by increasing operating and financial efficiencies. For instance, company leaders may be able to use technology to review the performance of equipment before issues crop up. Technology may also help to improve the experiences of the employees of corporate tenants and other end users.

Appear Here changes how commercial leases are handled

It is no surprise that store vacancies in the Los Angeles area and in other parts of California and the United States are rising in number these days. At the same time, more tenants are demanding shorter commercial leases. This is the perfect situation for a company called Appear Here, a business that is changing how landlords locate new tenants through an new online marketplace.

Appear Here, based overseas, moved into another state's market a year ago. Since then, it has seen over a 50 percent rise in global demand from brands interested in booking spaces by using the company's unique platform. Later in 2018, the company will enter the California market, too. It is also interested in moving into malls throughout the country.

Commercial leases in demand in life science industry

The industry of the life sciences in California -- San Diego specifically -- is growing exponentially. As a result, capital has been pouring into this market, and employment in this sector is up. This phenomenon is driving the demand for properties offering commercial leases -- a Southern California trend that may have a major impact on Los Angeles in the near future.

In 2018's first quarter, venture capitalists poured more than $547 into more than 30 startups in the San Diego area. This is around 4 percent higher than the previous year. A large percentage of the venture capital went toward the life sciences.

Buildings with commercial leases impacted by e-commerce

In the not-so-distant past, consumerism and commerce meant taking a trip to a nearby mall. Nowadays, however, consumers in Los Angeles and elsewhere associate these terms with visiting an e-commerce hub and eagerly waiting for their new packages to arrive at their homes or businesses a couple of days later. The evolution taking place in commerce no doubt has an impact on the real estate market, specifically the market of properties featuring commercial leases.

The real estate industry was admittedly unprepared for the rise of e-commerce. The result? Warehousing options ended up being limited. Thus, it may come as no surprise that commercial warehouse spending reached more than $24 billion last year -- a record.

WeWork uses commercial leases to offer workspaces

WeWork, a company that offers workspaces for rent, recently claimed more space in California -- specifically San Francisco. In fact, it just signed its largest Golden City lease. These types of commercial leases are becoming increasingly popular throughout the state, including in Los Angeles.

The lease that WeWork recently signed is for a property that spans almost 250,000 square feet. The deal no doubt solidifies the business' presence as a major player in San Francisco's commercial real estate market. The company is planning to turn the building, which dates back to the 1960s, into an amenity-heavy and trendy-looking co-working space.

Should I have a partner for my real estate investments?

Like many in California, you may be learning about the benefits of including real estate investment in your retirement portfolio. On the other hand, you may simply be excited by the many options available and hope to build a business through residential and commercial properties.

Whatever your goals, the first roadblock you may encounter is obtaining the resources necessary to begin purchasing the investment properties. You may be considering the option of taking on a partner in your investments. There certainly are many advantages to forming a partnership, especially if you have a particular person in mind with whom you would like to work. However, understanding the drawbacks to a partnership is essential to making a wise decision.

More commercial leases being used to provide co-working spaces

Areas where remote workers and entrepreneurs can share workspaces have been springing up in California and elsewhere throughout the United States during the past several years. As a result, many investors have set their eyes on properties featuring commercial leases that could be used as shared office spaces. The downtown area of Santa Rosa, located a few hours from Los Angeles, is ready to make a major investment in this co-working trend.

The first floor of a newspaper building in Santa Rosa is currently undergoing renovations to replicate the amenities, look and vibe of high-demand providers of co-working spaces in the San Francisco area. The aim is to offer office space spanning 10,000 square feet by the summer, followed by around 8,000 square feet of space in nearby Petaluma. This trend is not expected to die down anytime soon, either.

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