Data centers are the twenty-first century nexus between the commercial real estate and telecommunication business sectors. Owners, operators and developers of data centers face the difficult task of continually adapting to the rapidly evolving priorities of their ever expanding clientele in order to remain competitive and appealing to the largest number of actual and potential consumers. Cryptocurrencies based on Blockchain-secured transactions have been thrust into the public eye and have become the face of next generation investment opportunities with the spectacular rise and fall of the value of Bitcoin and Ethereum (among others). This post provides a glimpse into how data center owners, operators and developers can optimize their facilities by dedicating data centers with low overhead (achieved primarily by reducing cooling, redundancy and security expenses) to the exponentially growing cryptocurrency mining industry. A full length article will follow this post in the next few months with a more detailed analysis of the vastly contrasting needs of digital vaults or wallets storing coins of cryptocurrency.
Enacted by Congress in 1930 and revised in 1984, the Perishable Agriculture Commodities Act (PACA) protects sellers of perishable agricultural commodities, defined as “fresh fruits and fresh vegetables of every kind and character whether or not frozen or packed in ice, and cherries in brine as defined by the Secretary of Agriculture” by subjecting a “merchant, dealer or broker” of perishable produce to a trust on the proceeds on the sale of perishable produce, and products derived from that produce, for the benefit of all unpaid suppliers and sellers (a “PACA Lien”).
On February 12, 2018, President Donald Trump released his fiscal year 2019 budget proposal entitled “An American Budget.” Though Congress will not implement the proposal in its entirety, it still demonstrates what the Trump Administration would like to see prioritized in the coming year, which does not include climate change research. President Trump’s proposal would cut the National Oceanic and Atmospheric Administration’s climate research by more than one third, which would include cutting research into sea level rise.
Previously on this blog, my colleagues posed the question to commercial landlords, “Do you know who’s working in your building?” In this post, I look at a different aspect of the sharing economy—residential short-term rentals (STRs, for short)—and ask, “Do you know who’s living in your apartment?”
Our colleagues Susan Phillips, Stephen Friedberg and Andrew Dean wrote an article recently published on CFO.com. “Sale-Leasebacks: Cash Out but Keep Control” advises on how to recover capital spent on property acquisition and improvements while continuing to occupy and operate the property. The article has been attached below. Continue Reading Sale-Leasebacks: Cash Out but Keep Control
Co-working centers and shared office space arrangements have exploded onto the commercial real estate scene recently and offer attractive alternatives for many small businesses, early stage start-ups, incubators and freelancers to more traditional long-term office leases or work-from-home arrangements.
The co-working model likely owes its meteoric rise to a shift in the workforce landscape at home and abroad. As more of the global workforce trends away from the traditional 9-5 office job and becomes increasingly independent, the co-working model has risen up to meet its evolving needs.
Drone use in the real estate industry has exploded in recent months. The utility of drones in sales, marketing, construction, surveying, and inspection of real property is undeniable. There is vast potential for commercial use of drones in the real estate industry. Their use has become very important in marketing strategies for brokers and developers, for inspection teams on construction projects and even for construction of high-rise cable structures. For example, drones can assist with moving dirt on a construction site using autonomous dump trucks, bulldozers, and excavators with real time mapping of the movement of soil and cement. Drones have also been extremely useful to surveyors in preparation of property reports and for owners who use drones for property security.
Recently, Law360 published our colleague Andrew A. Dean’s follow up to his previous article, “Negotiating Exclusive Use Provisions in Retail Leases.” This new article discusses how to address “rogue tenants,” the enforcement of an exclusive and whether continuous operation clauses should factor into the exclusive use provision when negotiating a retail lease on behalf of a tenant.
To read the full article, click here.
We are thrilled to announce that our colleague Andrew A. Dean was published in Law360. His article focuses on the more frequently discussed provisions in a retail lease – the tenant exclusive. He covers his own experience representing retail tenants and explains the fundamentals of a tenant exclusive from the perspective of the tenant and the various considerations to provide a healthy and robust advantage over competitors within the shopping center setting.
To access the full article, click here.
On September 15th, Mintz Levin, Cresa, and BDO will be hosting a Panel Discussion and Networking Reception in San Diego, California on the new changes to lease accounting rules. The FASB change will have profound impact on companies’ capital structures, leasing practices, and operational procedures. We invite you to a special evening event, where you will gain insight from our trusted advisors from legal, accounting, and real estate perspectives on the new FASB lease asset and liability reporting rules. For more information and to register, click here.