Property Tax Appeals: The Impact on Government, Landlord, and Tenants
November 22, 2009
Over 1,000 San Francisco property owners have filed petitions with the City of San Francisco to have their property taxes reduced. The same is for virtually every other city as property prices have fell dramatically.
Jose Guevara is property manager for Crocker Galleria, which has requested a 62 percent reduction in its assessed value, from $370.3 [...]
Got Tenant Risk? Madison Marquette Tracks Retail Tenants
June 23, 2009
Madison Marquette has been putting out some “research reports” lately. Previously they had a distress index, and now they’ve come out with a spreadsheet tracking the riskiness of major retail tenants.
I’d say the research is somewhat cursory as those retailers rated as high risk have already shown to be high risk and the real value [...]
An Interesting Strategy To Reduce Rent
April 15, 2009
I just got the April issue of Retail Traffic, and came across an article about a retailer who undertook a unique way of getting their rent reduced:
About 700 shopping center owners and managers across the United States recently received form letters from a major big-box retail tenant. “Since times are tough, we’ve decided to unilaterally [...]
Tenant Power: Sears Tower to Be Renamed to Willis Tower
March 16, 2009
Chicago’s iconic Sears Tower will be getting a new name this summer. Willis Group, a London-based insurance broker announced late last week that it had negotiated a deal for some 140,000 + square feet of space at the tower, and as part of the deal, they will get the building renamed in their favor to [...]
Read More >>Tenant Concerns About Landlords Sweeping The Market
March 13, 2009
About a week ago we wrote a post on tenant’s increasingly becoming concerned with the financial condition of their landlords. The SF Business Times today featured an article covering that very same topic. The article touched on non-disturbance agreements, as well as tenants seeking to have landlords put Tenant Improvmenet money in escrow accounts to [...]
Read More >>Proposition 13, Property Taxes, and Tenants
February 26, 2009
In the previous post we discussed plans on the table to hike taxes as an effort to help close budget deficits. As cities and the state continue to face tough economic decisions, there is increased scrutiny of Proposition 13, as it is seen by many as a way to help bring in additional revenue [...]
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