There are many factors that can impact a California real estate transaction, and not all of them pertain to legal complexities or financial matters. Often, environment factors can impact both residential and commercial property transactions. Whether you are buying or selling, you would be wise to learn how you can protect your interests when facing these matters.

In most cases, it is possible to deal with the environmental factors that could lead to health problems or safety concerns, but it is important to spot these issues as soon as possible. Either the buyer or the seller would be wise to identify these issues promptly in order to avoid assuming unintended liabilities.

What are the most common issues?

There are various types of environmental factors that could cause certain issues for you either as a buyer or a seller. Some of the most common of these factors include the following:

• Mold contamination: Mold is often a problem in buildings that are poorly constructed or do not have adequate ventilation. Mold can cause health problems, such as respiratory issues, as well as damage to the actual structure of the building.
• Land contamination: This type of contamination happens when pollution, litter or other factors actually contaminate the land itself or the water that runs into and off of the property. This can cause health problems and significant legal complications.
• Asbestos exposure: This type of toxic material is often in older buildings, but it can also be present in building materials, such as flooring and shingles. The cost of dealing with asbestos issues could be significant.

Sellers have the obligation to disclose any potentially dangerous environmental factor of which they are aware. Additionally, buyers have the right to know about issues and address any concerns before they purchase the property.

The impact of environmental issues

It can be quite costly to deal with environmental issues, and they can also be dangerous for the health of anyone who visits, lives on or works on the property. If you are selling a property and believe you have certain issues you should disclose, or if you are a buyer, you have no time to lose in taking the appropriate action to protect your interests.

With help, it is possible to deal with complications, address concerns and shield yourself from any unnecessary financial losses or unforeseen legal complexities. A real estate transaction of any kind is a major step, and you need an ally who can help you meet your objectives.

Posted in Firm News | No Comments »

A company that operates high-end shopping malls located in the Los Angeles area recently agreed for a real estate company from another country to acquire it. The price tag was a whopping $16 billion. The buyer now has a number of opportunities to generate revenue through the mall properties’ several commercial leases.

The company that agreed to be acquired is also based in another country and owns more than 30 malls. One of the malls it owns is Los Angeles’s Century City center, which recently underwent a makeover valued at a billion dollars. Other properties that the company owns are located in such California cities as Canoga Park, Arcadia, San Diego and Santa Clarita.

The real estate giant that is making the $16 billion purchase operates nearly 70 shopping centers throughout the world, including in countries such as France, Spain, Sweden, Holland and Germany. Although this company is based abroad, one of its regional headquarters will be in Los Angeles. The merger is expected to create an attractive and strong platform for growth in the future.

Commercial leases can be lucrative money makers for those who own the properties being leased. However, understanding the legal process for acquiring these commercial properties in today’s competitive real estate world can be tricky. In the same way, acquiring a lease with personally favorable terms can be challenging, especially in high-competition areas. Fortunately, a qualified real estate attorney can help those dealing with commercial leases to pursue outcomes that ultimately protect their best interests in the Golden State.

Source: latimes.com, “Shopping mall giant Westfield being sold to French real estate firm in $16-billion deal“, James F. Peltz and Roger Vincent, Dec. 12, 2017

Posted in Commercial Leases | No Comments »

A management and investment firm in another state recently paid more than $17 million for a creative office facility in California. The building is located in the Redondo Beach area, not far from Los Angeles. The seller, which offered commercial leases at the property, received a generous profit from this sale.

The seller, based in Santa Monica, acquired the office site a couple of years ago, paying $9.6 million for it. Thus, it took home a profit of $7.4 million after the recent sale. The 50,000-square-foot industrial building, called LINQ, has been redesigned and features an expansive deck that is Wi-Fi enabled. It also has glass sliding doors along with common areas that offer outdoor seating.

Eighty percent of the building is currently being leased to Uber and Amazon. Uber signed a lease for space spanning 10,000 square feet in July 2016. Meanwhile, Amazon leased industrial space spanning 20,000 square feet as well as office space spanning 10,000 square feet. The year 2020 is the expiration date for the electronic commerce giant. The company that bought the property also purchased three properties for more than $20.9 million in Southern California earlier this year.

Purchasing commercial properties and offering commercial leases through them can be an exciting endeavor for any real estate investor. Likewise, being able to sell a commercial property and make a profit can understandably be thrilling. However, these processes can also be complicated, and a single mistake may make reaching one’s goals impossible. A savvy attorney in Los Angeles can help to ensure that one’s unique commercial real estate goals are achieved from start to finish in the Golden State.

Source: therealdeal.com, “EverWest nabs creative office — home to Uber and Amazon — in Redondo Beach“, Natalie Hoberman, Dec. 5, 2017

Posted in Commercial Leases | No Comments »

Deciding between renting and buying may seem challenging for business owners in Los Angeles. However, commercial leases might be the best options for setting up new businesses because they allow the business owners to move to new locations as needed. In addition, the terms of a lease are shorter than those of a mortgage, and leasing frees up valuable capital, which can then be used for other business purposes.

Several factors are important to consider when looking for commercial properties to rent. One is the location of the property. Questions to ask are whether customers can access the location easily, what other companies are set up in the vicinity, how safe the area is, and whether nearby businesses will help one to generate business.

The affordability of the property available for lease is also an important consideration. Determining whether a building space is affordable is possible by first putting together a budget for the business. One of the most important points to consider is whether the building has the particular infrastructure one’s business needs as well. For instance, the building needs to be big enough and offer an adequate supply of electrical power.

In addition, prior to signing commercial leases, business owners may benefit from determining if the zoning for potential properties will permit them to use the properties how they intend to use them. Unfortunately, a mistake in the property search or commercial lease negotiating process can be costly down the road. An attorney in Los Angeles can help to ensure that one’s best interests are protected before one signs on the dotted line.

Source: findlaw.com, “How to Find Commercial Property to Rent“, Accessed on Dec. 14, 2017

Posted in Commercial Leases | No Comments »

Laws governing commercial zoning dictate what type of activities businesses can conduct in certain areas. They also determine the categories of businesses that may occupy particular areas. For this reason, paying attention to zoning is critical when looking for commercial leases in Los Angeles.

A couple of nuggets of information may be helpful for avoiding trouble with commercial zoning when looking for leasing opportunities. First, sometimes a brand-new zoning law is implemented, but a tenant who existed in a location prior to the law’s implementation may still legally continue with the property’s previous use. After this tenant vacates this property, any new occupant cannot continue the previous use, which is known as non-conformance.

In addition, sometimes a former tenant was given a special permit called a variance. This permit allowed the tenant to utilize the property outside the established zoning laws. Such a permit applies only to the particular business given the exception, not to any new tenants who take the business’s place.

Not researching and understanding an area’s zoning laws prior to entering into a commercial lease agreement is a major mistake that some business owners make. Another costly mistake that many business owners make when it comes to signing commercial leases is failing to read all of the fine print in the leases. An attorney can help a business owner in Los Angeles review a lease as well as negotiate one in a manner that will benefit the client and protect his or her legal rights long term in the Golden State.

Source: findlaw.com, “Commercial Zoning“, Accessed on Dec. 27, 2017

Posted in Commercial Leases | No Comments »

Multiple foreign investors have purchased hundreds of millions of dollars’ worth of real estate properties in the Silicon Valley area. This may be good news for these investors, who may see their bottom lines rise over time as they offer lucrative commercial leases to business owners. It may also be good news for the community and other parts of California, including Los Angeles, which may continue to experience economic growth as a result of such purchases.

The foreign investors have purchased hotels and office campuses. However, their purchases may come as no surprise, as Silicon Valley remains a real estate investment hot spot. Investors overseas still see the area as the best place for purchasing property and witnessing innovation.

A large number of investors specifically come from Asia, with the most active of them being affiliates who are under the control of Han’s Laser Technology Industry Group, based in China. These investors have spent a minimum of $199 million in a total of four acquisitions beginning this past spring. Their purchases have included commercial real estate in San Jose and Sunnyvale. However, one of the biggest property purchases by Asian investors is the purchase of a complex spanning 941,000 square feet in Santa Clara by CBRE Global Investors.

Purchasing commercial real estate to make commercial leases available can be an exciting yet daunting endeavor. Simple mistakes can end up costing an investor large sums of money, time and energy. However, a real estate attorney in Los Angeles can provide the necessary guidance for navigating these types of deals in the Golden State.

Source: mercurynews.com, “Asian buyers pour $300 million into Silicon Valley buildings“, George Avalos, Nov. 7, 2017

Posted in Commercial Leases | No Comments »

Real estate continues to be an excellent investment for several reasons. These include high return rates and strong tax advantages. Another major benefit is the ability to leverage these assets to build one’s wealth. It is for these reasons that developing real estate investment partnerships remains a promising goal for many throughout the United States, including in Los Angeles.

A major reason why investing in real estate can be so advantageous is that this type of asset offers better returns when compared with today’s stock market. Many factors in the stock market that are beyond one’s control can hurt a stock market investment, but real estate provides an investor with more control because the asset involved is tangible and can be leveraged to capitalize on many revenue streams. At the same time, the investor can continue to enjoy the capital appreciation.

Another reason for investors to choose real estate is that homes and land will always have value. On the contrary, other investments might end up featuring no tangible value, such as stocks that plummet to zero, or motor vehicles, which lose their value with each day. Furthermore, commercial property insurance — just like homeowners insurance — can help to protect real estate investments.

Matters involving real estate investment partnerships can understandably be complex. However, an attorney in Los Angeles can help with processes such as acquiring commercial real estate, putting together property management agreements, and dealing with partnership disputes. The attorney’s goal is to make sure that in any situation a client’s best interests are upheld from start to finish so that one’s real estate-related goals will be fulfilled in the Golden State.

Source: entrepreneur.com, “5 Reasons Why Real Estate Is a Great Investment“, James Harris, Nov. 16, 2017

Posted in investment Partnerships | No Comments »

Arguments between neighbors are sometimes inevitable, particularly when they involve property boundaries. Unfortunately, these arguments can quickly escalate, causing extra problems for both parties. In these real estate dispute situations in Los Angeles, seeking a solution through the court system may be the only option for addressing these issues.

Property surveys are completed when properties are purchased and ideally should reveal the properties’ boundary lines. However, two neighbors may not agree on where the lines are, and obtaining a survey that is updated may not be possible for various reasons — for example, due to the property deed’s wording or the property’s age. In this situation, a neighbor may ask a judge to determine the property’s boundary lines, through what is called a quiet title lawsuit.

Another option when tackling a property boundary dispute is for the two neighbors to come to an agreement on a certain object that will be their boundary line. This object may be a tree or a fence, for example. Then, both neighbors can sign a legal document known as a quitclaim deed, which would grant each person ownership of the land on his or her side of the agreed-upon object.

Real estate dispute situations can easily happen if a homeowner decides to start a building or gardening project near what he or she believes to be the edge of his or her property, for example. An attorney can provide the guidance needed to navigate these disputes, including filing a quiet title lawsuit or preparing a quitclaim deed. The attorney’s goal in Los Angeles is to make sure that one’s best interests and property rights are protected in the Golden State.

Source: findlaw.com, “Boundary Disputes“, Accessed on Nov. 14, 2017

Posted in Real Estate Litigation | No Comments »

A California real estate transaction is a major legal and financial process, and when there are unfortunate complications, the impact can reverberate for years to come. When buying or selling commercial real estate, you know that protecting your interests is tantamount, including protecting yourself against mortgage fraud.

With experienced guidance, you can shield yourself from potential complications that are a result of mortgage fraud. Not only will this save you from possibly substantial financial losses, it can help you avoid legal complications in the future. If you believe that you are already a victim of this type of crime, you would be wise to take quick action to avoid further harm.

What does mortgage fraud mean anyway?

Mortgage fraud is a term that encompasses various different types of illegal activity, all done with the intent of wrongful financial gain through the mortgage process. As the purchaser or seller of the property, you may have experienced mortgage fraud committed by a real estate professional. Professionals who may commit fraud include the following:

• Real estate appraiser
• Mortgage broker
• Bank officers
• Loan originators

Mortgage fraud for profit usually occurs when a person who works in the mortgage or real estate industry uses his or her knowledge of the processes and laws to act illegally. In many cases, multiple parties are working together to misuse the mortgage process in some way. The result is typically the theft of equity or cash from the subject of the fraud scheme.

The people who commit mortgage fraud can be quite creative in their efforts to steal and deceive. Some of the schemes commonly employed include foreclosure rescue schemes, falsely inflating the appraised value of a property, misinformation regarding property conditions and more. If you believe that you are a victim of any type of mortgage fraud, you would benefit from the assistance and guidance of an experienced legal ally.

How can you protect yourself?

One of the simplest ways that you can minimize your exposure to various types of mortgage fraud schemes is to carefully review all documents before you sign. It can also be useful to have legal support from the very beginning of the purchase or sale process.

Avoiding problems or dealing with the consequences of issues related to mortgage fraud is both legally and financially complex. You could benefit from a complete evaluation of your case and thorough explanation of the various legal options available to you.

Posted in Firm News | No Comments »

With a greater emphasis being placed on sustainability in Los Angeles and other parts of the Golden State, being green is becoming increasingly important in all areas of business, including in real estate. For this reason, the Institute for Market Transformation recently added multiple enhances to its Green Lease Leaders recognition program. It has collaborated with the Lawrence Berkeley National Laboratory and the Better Buildings Alliance of the U.S. Department of Energy on this initiative impacting commercial leases.

The Green Lease Leaders recognition program was launched back in 2014 and recognizes tenants and landlords in the industrial, retail and office sectors who are seeking to improve their water and energy use via the corporate guidelines and lease clauses they use. The goal of the program is to establish a new green standard for those in the leasing business. Since the program was created, commercial spaces spanning more than 1.3 billion square feet have been called Green Lease Leaders.

In October, the program took things a step forward by revealing revised criteria for green leasing, along with silver and gold recognition levels. It also now offers a newly designed website featuring a lease assessment tool that can be used online. In addition, new reference guides featuring example lease language are also available.

Going green with commercial leases is growing in popularity today, but being sustainable in the leasing world is not possible without first securing a lease or obtaining a piece of property that provides leasing opportunities to businesses. Leasing or purchasing real estate can be tricky, whether one is a novice or veteran in the real estate world. Fortunately, an attorney in Los Angeles can help with each stage of the process to make sure that one’s goals and best interests are upheld from start to finish.

Source: facilityexecutive.com, “Search Is On For 2018 Green Lease Leaders“, Oct. 31, 2017

Posted in Commercial Leases | No Comments »