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There has been a push for development in and around the city of Los Angeles during the past several years. One of the newest planned developments is the mixed-use Park Fifth, which is slated to break ground in April. With these kinds of developments come many more opportunities for businesses to take advantage of commercial leases in the Golden State. The first stage of Park Fifth will involve the building of a tower featuring more than 300 apartments. In addition, retail space spanning a whopping 7,000 square feet on the ground floor will also be created. In the second stage of the project, a tall building spanning 460,000 square feet will be erected. This building will provide nearly 350 luxury apartments, underground parking, restaurants, retail space, a pool and a rooftop terrace and kitchen. Yet another project is planned for construction soon in the Los Angeles area: the mixed-use Grand Avenue Project. This billion-dollar project will feature residential units that are both for rent and for sale. The project will also include restaurants and retail space. As the Los Angeles area continues to build up, now appears to be an ideal time for businesses to seek out commercial leases in prime retail locations. However, the leasing process can be complicated, and one’s bottom line may be negatively affected if caution is not taken when signing a lease. A California real estate attorney can help review a potential lease as well as negotiate one so that a business owner’s best interests and rights are protected long term. Source: constructiondive.com, “ Construction begins on massive North Hollywood, CA mixed-use development “, Kim Slowey, April 11, 2017

The market for commercial real estate is booming in the southern part of California, including in Los Angeles. This is the finding of a recent report on market intelligence for the year of 2016. This area of the Golden State is picking up steam in several areas, including business expansion, with more companies taking advantage of commercial leases. Four new businesses have leased space for research and development, spanning almost 40,000 square feet over the past six months in Pasadena alone. In addition, Kaiser Permanente is continuing to expand its medical and office spaces in this city. In fact, Kaiser, which currently employs more than 4,800 people, is creating a new medical school that will be four stories tall and 80,000 square feet. This project is slated to be finished in the early part of 2019. Besides business expansion, Southern California is witnessing low vacancy rates in office buildings as well as a rise in land sales. There has been particularly strong activity at Long Beach’s and Los Angeles’s ports. In addition, in the San Fernando Valley, Westfield Corp. plans to erect a huge mixed-use complex that will replace an old shopping mall. As Southern California continues to experience unparalleled growth, an increasing number of company owners may be interested in a wide variety of commercial leases, ranging from industrial leases for warehouses and office leases to retail and mixed-use leases. However, understanding the intricacies of each of these types of leases can be challenging. An attorney in Los Angeles can review these documents as well as negotiate them or even draft them to ensure that a lease reflects a company’s best interest before the company signs it. Source: pasadenastarnews.com, “ Report: Southern California’s commercial market is booming “, Kevin Smith, April 22, 2017

The market for commercial real estate is booming in the southern part of California, including in Los Angeles. This is the finding of a recent report on market intelligence for the year of 2016. This area of the Golden State is picking up steam in several areas, including business expansion, with more companies taking advantage of commercial leases. Four new businesses have leased space for research and development, spanning almost 40,000 square feet over the past six months in Pasadena alone. In addition, Kaiser Permanente is continuing to expand its medical and office spaces in this city. In fact, Kaiser, which currently employs more than 4,800 people, is creating a new medical school that will be four stories tall and 80,000 square feet. This project is slated to be finished in the early part of 2019. Besides business expansion, Southern California is witnessing low vacancy rates in office buildings as well as a rise in land sales. There has been particularly strong activity at Long Beach’s and Los Angeles’s ports. In addition, in the San Fernando Valley, Westfield Corp. plans to erect a huge mixed-use complex that will replace an old shopping mall. As Southern California continues to experience unparalleled growth, an increasing number of company owners may be interested in a wide variety of commercial leases, ranging from industrial leases for warehouses and office leases to retail and mixed-use leases. However, understanding the intricacies of each of these types of leases can be challenging. An attorney in Los Angeles can review these documents as well as negotiate them or even draft them to ensure that a lease reflects a company’s best interest before the company signs it. Source: pasadenastarnews.com, “ Report: Southern California’s commercial market is booming “, Kevin Smith, April 22, 2017

In Los Angeles County, a quickly growing outlier is nearby Santa Clarita Valley. In fact, traffic levels in this area recently exceeded those of the years 2010 to 2012. The strong growth being witnessed in the area may be a motivating factor for businesses to pursue commercial leases in the area. Information about the growth of Santa Clarita Valley was recently shared during an economic forecast meeting involving business people and economic development professionals. Bankers and commercial real estate brokers also participated. The economist who spoke during the meeting emphasized that not only high traffic levels but also the low percentage of commercial real estate vacancies are indicators of the region’s strong growth. In 2016, the area had an 8.3 percent vacancy rate. This was one of the lowest rates in the Southern California area. This was at a time when landlords have been struggling to fill big sites in Los Angeles County. In addition, job growth is expected to rise almost 3 percent this year in areas such as professional business, health care, leisure and retail services. Officials anticipate that commercial investment in the Santa Clarita region will rise significantly between now and the year 2022, totaling over $540 million. This is a much bigger jump than the $394 million worth of commercial investment that took place in the region from 2011 to 2016. With strong growth on the horizon, now appears to be an ideal time to take advantage of commercial leases while vacancies still exist. An attorney can help business owners to understand and negotiate the terms of any lease before they sign on the dotted line. Source: sfvbj.com, “ Economist Reports Strong Growth for Santa Clarita “, March 31, 2017

In Los Angeles County, a quickly growing outlier is nearby Santa Clarita Valley. In fact, traffic levels in this area recently exceeded those of the years 2010 to 2012. The strong growth being witnessed in the area may be a motivating factor for businesses to pursue commercial leases in the area. Information about the growth of Santa Clarita Valley was recently shared during an economic forecast meeting involving business people and economic development professionals. Bankers and commercial real estate brokers also participated. The economist who spoke during the meeting emphasized that not only high traffic levels but also the low percentage of commercial real estate vacancies are indicators of the region’s strong growth. In 2016, the area had an 8.3 percent vacancy rate. This was one of the lowest rates in the Southern California area. This was at a time when landlords have been struggling to fill big sites in Los Angeles County. In addition, job growth is expected to rise almost 3 percent this year in areas such as professional business, health care, leisure and retail services. Officials anticipate that commercial investment in the Santa Clarita region will rise significantly between now and the year 2022, totaling over $540 million. This is a much bigger jump than the $394 million worth of commercial investment that took place in the region from 2011 to 2016. With strong growth on the horizon, now appears to be an ideal time to take advantage of commercial leases while vacancies still exist. An attorney can help business owners to understand and negotiate the terms of any lease before they sign on the dotted line. Source: sfvbj.com, “ Economist Reports Strong Growth for Santa Clarita “, March 31, 2017

Once the ink has dried on the signature line of a lease document, it is natural to think that the deal is done. However, the process is far from over in the moments directly following business owners’ signing of commercial leases in Los Angeles and other parts of California. Some important steps still need to be addressed. First, making a couple of copies of a lease can be helpful. One can be placed in a digital file that is easy to access, or it can even be stored in a desk drawer so that it can be referred to easily. The other one can be placed with the company’s payable department. It may also be beneficial to create a lease abstract. This abstract details important dates for renewal options and purchase options as well as the amounts due for rent and any rent increase amounts. Finally, ensuring that the lease document is fully executed is paramount, as the occupants of commercial real estate in many situations are never provided with fully executed copies of their leases. Signing commercial leases for new locations can be exciting for companies, as it is a sign that these companies are finally establishing themselves, growing or expanding. However, not understanding the lease negotiation process can be costly for a business owner in the long run. An attorney in Los Angeles can help business owners to review and negotiate leases on their terms so that their best interests are upheld as they seek to claim a profitable spot in the business world. Source: ocregister.com, “ Commercial real estate: A new lease is signed — now what? “, Allen Buchanan, April 17, 2017

Once the ink has dried on the signature line of a lease document, it is natural to think that the deal is done. However, the process is far from over in the moments directly following business owners’ signing of commercial leases in Los Angeles and other parts of California. Some important steps still need to be addressed. First, making a couple of copies of a lease can be helpful. One can be placed in a digital file that is easy to access, or it can even be stored in a desk drawer so that it can be referred to easily. The other one can be placed with the company’s payable department. It may also be beneficial to create a lease abstract. This abstract details important dates for renewal options and purchase options as well as the amounts due for rent and any rent increase amounts. Finally, ensuring that the lease document is fully executed is paramount, as the occupants of commercial real estate in many situations are never provided with fully executed copies of their leases. Signing commercial leases for new locations can be exciting for companies, as it is a sign that these companies are finally establishing themselves, growing or expanding. However, not understanding the lease negotiation process can be costly for a business owner in the long run. An attorney in Los Angeles can help business owners to review and negotiate leases on their terms so that their best interests are upheld as they seek to claim a profitable spot in the business world. Source: ocregister.com, “ Commercial real estate: A new lease is signed — now what? “, Allen Buchanan, April 17, 2017

Whole Foods Market recently signed a lease for yet another brand new store in California. The lease is for a facility that spans a whopping 52,000 square feet. By signing these types of commercial leases, companies in Los Angeles and other parts of the Golden State are able to have a major impact on the economy of a local area, with the lessor — the owner of the lease — especially benefiting as well. Construction of Whole Foods, which sells natural and organic foods, is slated to start this year. The store should open in the early part of 2019. It will essentially serve as part of the replacement of a town center shopping mall. The town center in which the supermarket will be introduced is considered a very desirable location for both residents and businesses, with the downtown area already being vibrant. Construction has already started on the 36-acre development, which a venture capital fund acquired in 2016. A real estate developer also plans to bring nearly 200 residential apartments along with more than 100,000 square feet of restaurant and retail space to the market next year. Another project in the works is the reopening of a square for the public to use in the spring. Adding a business to a new location by signing a commercial lease for property there can understandably be exciting. However, commercial leases can be complicated to negotiate. An attorney in Los Angeles can offer guidance during the process of reviewing and negotiating a lease to ensure that a business’ best interests are upheld in the terms of the lease long term. Source: Mountain View, CA, Patch, “ Whole Foods to Open New South Bay Location “, Mark Nero, Feb. 24, 2017

Whole Foods Market recently signed a lease for yet another brand new store in California. The lease is for a facility that spans a whopping 52,000 square feet. By signing these types of commercial leases, companies in Los Angeles and other parts of the Golden State are able to have a major impact on the economy of a local area, with the lessor — the owner of the lease — especially benefiting as well. Construction of Whole Foods, which sells natural and organic foods, is slated to start this year. The store should open in the early part of 2019. It will essentially serve as part of the replacement of a town center shopping mall. The town center in which the supermarket will be introduced is considered a very desirable location for both residents and businesses, with the downtown area already being vibrant. Construction has already started on the 36-acre development, which a venture capital fund acquired in 2016. A real estate developer also plans to bring nearly 200 residential apartments along with more than 100,000 square feet of restaurant and retail space to the market next year. Another project in the works is the reopening of a square for the public to use in the spring. Adding a business to a new location by signing a commercial lease for property there can understandably be exciting. However, commercial leases can be complicated to negotiate. An attorney in Los Angeles can offer guidance during the process of reviewing and negotiating a lease to ensure that a business’ best interests are upheld in the terms of the lease long term. Source: Mountain View, CA, Patch, “ Whole Foods to Open New South Bay Location “, Mark Nero, Feb. 24, 2017

Easements are one area of real estate that can be confusing for both residential and commercial buyers. A major question posed in a real estate dispute involving an easement, or the right to use a particular piece of land, is whether it is implied or express. The chief difference between the two is that an implied easement in Los Angeles or another part of California is created through particular circumstances, whereas an express one arises from a document or agreement. Express easements are created by wills or deeds. Therefore, they have to be in writing. They can also be formed when the owners of certain properties convey their land to others but save or reserve easements in them. Implied easements exist when there are no particular agreements or documents creating them. There are three requirements for having these types of easements. First, they have to be reasonable necessary for the original pieces of property to be able to be enjoyed. Second, the land has to be split so that a parcel’s owner is either selling a part and retaining the other party, or is subdividing the land and then selling parts to various new owners. Finally, the reason for the use of the easement must have existed before the sale or severance took place. In some cases, a real estate dispute may arise regarding whether an easement exists or not. In other cases, a business or individual may wish to create one. In addition, some people or businesses might want to buy properties that have been burdened by them. In any of these situations, an attorney experienced in real estate law can help to protect one’s best interests in Los Angeles and elsewhere in California. Source: findlaw.com, “ Express and Implied Easements “, Accessed on March 15, 2017

Easements are one area of real estate that can be confusing for both residential and commercial buyers. A major question posed in a real estate dispute involving an easement, or the right to use a particular piece of land, is whether it is implied or express. The chief difference between the two is that an implied easement in Los Angeles or another part of California is created through particular circumstances, whereas an express one arises from a document or agreement. Express easements are created by wills or deeds. Therefore, they have to be in writing. They can also be formed when the owners of certain properties convey their land to others but save or reserve easements in them. Implied easements exist when there are no particular agreements or documents creating them. There are three requirements for having these types of easements. First, they have to be reasonable necessary for the original pieces of property to be able to be enjoyed. Second, the land has to be split so that a parcel’s owner is either selling a part and retaining the other party, or is subdividing the land and then selling parts to various new owners. Finally, the reason for the use of the easement must have existed before the sale or severance took place. In some cases, a real estate dispute may arise regarding whether an easement exists or not. In other cases, a business or individual may wish to create one. In addition, some people or businesses might want to buy properties that have been burdened by them. In any of these situations, an attorney experienced in real estate law can help to protect one’s best interests in Los Angeles and elsewhere in California. Source: findlaw.com, “ Express and Implied Easements “, Accessed on March 15, 2017

A group of nuns recently lost their legal effort to prevent pop singer Katy Perry from buying their former convent. After this last ruling, the singer is now one step closer to being able to move into the beautiful property, something she has been trying to do since 2015. The property includes fountains, several buildings and a church. Through her limited liability company (LLC), Perry first offered to pay $14.5 million for the eight-acre estate to turn it into her private residence in Los Angeles. Details of a sale gone wrong But before she could go into escrow, the following things occurred that delayed the timely transfer of the property into her possession: Two nuns from the Sisters of the Most Holy and Immaculate Heart of the Blessed Virgin Mary made a quick deal with another private buyer. The sale to the second buyer closed quickly to prevent the sale by the archdiocese to Perry. The closed sale of the property did not have the necessary written approval from either the L.A. archdiocese or the pope, ultimately rendering it an invalid transaction. A Los Angeles Superior Court ruled against the nuns, yet the local archdiocese says that this is ultimately the best outcome for them. While this interesting case did technically pit the nuns against the archdiocese, the voided transaction came with only a small initial payment. The second buyer initially paid the nuns $44,000 and signed a promissory note for the rest, about $9 million. According to details known about the case and the terms of the contract, the invalid sale did not necessarily guarantee that the sisters would have ever received the rest of the amount owed. How you can avoid similar complications It is not every day that a dispute over a real estate transaction involves a group of nuns and a well-known pop star, but this case underlines the importance of working closely with an attorney to avoid similar complications. You or your business would be wise to approach the purchase and sale of valuable and complex properties only with qualified legal guidance and protective contractual provisions. A careful drafting and review of any contract is a positive effort toward avoiding disputes and legal complications that may prevent you from reaching your legal objectives.