Right up there with labor, the leasing of commercial space is a huge cost for the typical business owner. Commercial space is expensive, and leases often run for five to seven years or more. The total lease obligation on even a modest commercial space can often run into the millions of dollars. And landlords typically aren’t lining their pockets with these monthly rent checks. They’ve got mortgages to pay, and depend on their tenants paying…
M&A deals have declined by 13% in the first half of 2020 compared to this point in 2019. The dollar value of deals has declined by 43% since last year at this time. Companies in today’s uncertain environment due to the Covid-19 pandemic, global economic uncertainty, the upcoming US election, and racial unrest, must find creative ways to capitalize on opportunities and must adapt to survive long-term.…
These are uncertain times and COVID 19 has impacted all deal sectors. The buying and selling of development land has not been spared from this uncertainty.  Land development transactions often take years to close. Due diligence in these deals is centered around environmental testing, surveying, market analysis, and most importantly obtaining the necessary entitlements to the land from the local governing body so the land is fit for the development purposes. Given this extended time…
Application and purpose of PPP. The goal of the Payroll Protection Program (PPP) is to allow businesses and their employees to weather this storm.  The forgiveness provisions all relate to continuing employee payroll, and allowing businesses to pay rent/mortgages/utilities.  This forgiveness program is not designed to help businesses buy new equipment or pay off existing debt.  At the time of application, the applicant must certify that the business intends to use to funds to cover…
COVID-19 or the “Coronavirus” has forced all of us to act individually for the collective good but to think globally. It has forced law firms, large and small, and clients, large and small, to adapt and to plan. We are all in this fight together, and new issues will arise everyday as the repercussions continue. Our transaction team has already come across several issues including one we will discuss in depth below, force majeure clauses.…
Two common ways of pricing for construction contracts are fixed rate and costs plus. Fixed rate is a single price which incorporates all the costs (materials, labor, overhead) and profit. Costs plus has two prices: the estimate base cost (material, labor, overhead) and has the profit as a separate price and additional fee.…
Imagine — you’ve just tied the knot with your life partner, and you couldn’t be happier. As you and your spouse step on an airplane to the Bahamas, the word “prenup” is far from your mind. You are in the honey-moon phase, and the last thing you want to do is plan for the divorce you believe will never happen.  When you start a business with a trusted partner, you may be in a similar…