Wednesday, July 23, 2008

Mid-Week Tidbits

Things have been crazy, so I've been remiss in not posting daily. I'll try to improve that. A few items from other blogs caught my eye this morning.

One is the passage of a green building code in California, voluntary until 2010 and mandatory thereafter. My take? The private sector is usually, in my opinion, the better way to go about making changes in how things are done. But then, California was the leader in the anti-smoking movement and I'm not sure those bans would ever have come into place without government intervention. We'll see whether this is a folly or a harbinger of things to come. I can already see the potential litigation coming out of this.

Commercial property prices are continuing their adjustment downward. Some of that may also have to do with the sales being predominantly in smaller properties where sellers are willing to take haircuts. People who can are holding on to their trophies.

Still more pressure on the retail side with Mervyn's on the verge of tanking. This can cause unforeseen problems on the legal side. How so? More than a few retail leases may have co-tenancy clauses that allow in-line tenants to walk or stop paying rent or pay reduced rent if anchors go away.

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