Many clients come to Zimmel Associates of Edison, NJ in need of industrial space for manufacturing and/or warehousing.
Recently, David Zimmel, CEO, Zimmel Associates, handled the $10.5 million sale of 25 Linden Ave., East Jersey City, NJ, featuring an industrial building of 105,000 s/f, which included 12,000 s/f of office space, tailboard loading and a tenant with several years left on their lease. The industrial building is in a great location, right off the highway, close
By the end of 2017, it appeared as if the American shopping mall, once an integral part of suburban life, was facing certain demise. With rent rolls suffocated by anchor bankruptcies and closures, the outlook of the once beloved asset class seemed glume. Malls anchored by one of the big four: Sears, J.C. Penney, Macy’s or Kohl’s were sure to realize bankruptcy or closure sooner than those with the foresight and resources to swap out the big box risk for “experience” tenants s
Volatility continues in the retail real estate environment with many traditional retailers using the bankruptcy process to reorganize to right size themselves or in some cases leave the market all together. When space is returned to a landlord it can present opportunities to reinvigorate a shopping center with fresh concepts that are trending up. However, the bankruptcy tenant may leave the landlord with an arrearage for both the pre- and post-bankruptcy amounts owed that it
Property taxes imposed by local governments and school districts can be a serious burden on every type of property, including income-producing properties such as shopping centers, apartment complexes, and office buildings. The burden has become even greater due to the “reverse” assessment appeals that have become a popular income generating strategy for municipalities and school districts. Although the Pennsylvania Supreme Court took a scalpel to the reverse appeal process in
The status of Qualified Improvement Property (QIP) under the Tax Cuts and Jobs Act (TCJA) has been an unresolved issue since the TCJA was passed, and taxpayers have long been hoping for an update. Momentum is beginning to build towards the long-awaited Congressional technical correction.
On 3/14/19, U.S. Senators Pat Toomey (R-Pa.) and Doug Jones (D-Ala.) introduced the Restoring Investments in Improvements Act (RIIA), which would firmly establish the recovery period of QIP
It seems to me that one third of 2016 has slipped by very quickly, but not without quite a bit of news in the world of commercial real estate finance. A few notable observations so far this year, in no particular order, are as follows: 1.Bank consolidation – 2015 saw a flurry of bank acquisitions in the Delaware Valley market, and the pace has only increased in 2016. Off the top of my head Susquehanna Bank, National Penn Bank, Penn Liberty Bank, East River Bank, Continental B
The term “bad boy” guaranty is used in certain circumstances to describe a guaranty to be provided – usually by individuals, not an entity – subject to certain triggers for liability (such as insolvency) in connection with, most often, real estate financing. Traditionally, it was widely believed that a “bad boy” guaranty was a contingent liability that should be disregarded for purposes of determining whether the guarantor bore the economic risk of loss for the underlying deb