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If your business is looking for big box locations, this could be your opportunity to purchase a lease through bankruptcy auction at a significant savings. The process is manageable, and the upside potential can be worth the effort. Our bankruptcy and real estate attorneys have worked in tandem on many transactions on behalf of retailers looking to acquire leases and assisting landlords with their bankruptcy claims. For further information contact Jason Teele or Ted Zangari.Continue Reading Big Lots and Lumber Liquidators Each Announce Hundreds of Store Closings at Big Box Locations Across the U.S.

With the legislative session in Trenton coming to an end tomorrow at noon, New Jersey legislators and the Governor have crafted compromise legislation, S4265/A5912 (which can be found here), to address some of the long-awaited reforms so desperately needed to revamp New Jersey’s antiquated liquor license regulations. While the bill makes some significant changes regarding brewery licenses and addresses inactive retail consumption (i.e., restaurant) licenses, it does not fully satisfy Murphy’s call to reform and expand the liquor license scheme overall. The legislation appears to be on track for passage by both houses of the Legislature today, and Governor Murphy is expected to sign the bill into law as soon as it hits his desk.
Continue Reading A Deep Dive Examination of the Restaurant Liquor License Aspects of the Fast-Moving Bill Speeding Through the New Jersey Legislature

With just two days remaining in the two-year legislative session in Trenton, New Jersey lawmakers and the Governor’s Office are reportedly drafting compromise legislation for speedy passage tomorrow and Monday, which Governor Murphy is expected to sign into law in a matter of days. While the contents of the draft bill fall far short of the Murphy Administration’s proposed sweeping overhaul of the state’s alcoholic beverage laws, the revisions appear to be significant. NJ Advance Media has previewed the legislation and is reporting that it would:
Continue Reading NJ Legislature Poised to Revise Restaurant/Brewery Liquor Licensing Laws with Two Days Left in Session

A new statute imposes sweeping new notice requirements affecting properties that are subject to flooding. All owners of land in New Jersey, including commercial and industrial property owners, who lease their sites or are considering a transfer of improved or unimproved land should consider whether the new notice requirements apply. A copy of the adopted statute can be found here.
Continue Reading Landlords and Sellers of Property Beware: New Law Requires Disclosure of Flood Risks for Commercial, Industrial and Multi-Family Sites

A bill on Governor Murphy’s desk for possible enactment into law would add yet another burden on commercial property owners. This time it’s an effort to create a public database of all vacant commercial space available in the state for lease or purchase. Legislators have touted this initiative (Senate Bill 3286/Assembly Bill 4750) as a tool to help New Jersey’s small businesses in “locating storefronts,” but what does it mean for commercial property owners?
Continue Reading Vacant Storefront Registry Program – Would It Really Help?

Op-ed as seen on: ROI-NJ.com
By: George Jacobs and Ted Zangari

High on the list of antiquated regulations that are stifling competitiveness in New Jersey are those governing restaurant liquor licensing. So, kudos to Gov. Phil Murphy for being the first governor in modern state history to openly call for the overhaul of a system that for decades has prevented many restaurants from offering their customers the convenience of an adult beverage. The Murphy administration’s plan is to make restaurant liquor licenses less expensive and more readily available. Both are laudable goals, but the governor’s initiative has encountered resistance from an array of special interests, and legislators are now focusing more narrowly on the issue.Continue Reading Liquor License Issue Is 2-Part Problem: Here’s 2-Part Solution

Recently passed legislation on Governor Murphy’s desk for enactment would require all new leases and lease renewals in New Jersey – both commercial and residential – to include specific disclosures regarding potential and past flooding. Similar disclosures would also be required to be added to the “Property Condition Disclosure Statement” for the sale of “any real property located in the State.” (A separate post on this law blog will summarize the bill’s impact on sale contracts.)Continue Reading Bill on Governor Murphy’s Desk Would Impose New Flood Disclosure Notice Requirement on All Commercial & Residential Leases and Sales of Property

It’s true: COVID-19 has breathed new life into parking lots. As Neal Freyman of Morning Brew has observed:

  • Churches, synagogues, and other places of worship have been holding radio broadcasted services in their parking lots.
  • DJs in Germany have been hosting drive-in raves in parking lots.
  • With libraries, schools, and coffee shops closed, parking lots have become a “digital lifeline” for many Americans needing to access wi-fi.

Continue Reading The Revenge of the Parking Lot

I salute property owner, client and friend George Jacobs for his candor about the mess in which shopping center owners, managers, retailers and lenders find themselves. My thoughts about the shopping center landlord-tenant relationship in the midst of this pandemic can be found here.Continue Reading Landlords Brace for Fallout, Search for Solutions With Retailers Battered by COVID-19 Shutdown

As malls and shopping centers re-open, a second default scenario looms behind the tenant’s failure to pay rent: its failure to “continuously operate” as required in many store leases. Just as JC Penney is fighting to keep Sephora’s store-in-store concept operating (see linked article), landlords can be expected to likewise enforce their rights to prevent the domino effect of impermissible store closings by some tenants triggering the go-dark rights of still more tenants. Courts around the country are divided on the enforcement of continuous operations provisions in leases; this will get interesting.Continue Reading JC Penney Goes to Court to Try to Stop Sephora from Pulling Out of the Troubled Chain’s Stores