How long can we expect Red Lobster properties to remain vacant? The recent announcement of Red Lobster’s bankruptcy has created a significant pool of vacant sit-down restaurants across the United States. There has been no shortage of opinions about the demise of Red Lobster in traditional media, social media, and blog posts. Some opine on […]
You thought your vacant commercial property was secure. Perhaps you were transitioning to a sale or maybe renovating for a new tenant. You locked doors and used outside security lighting to ward off vandals. Then, the local police call you reporting repeated crimes or maybe the building department in some far away state starts issuing […]
Reprinted from TRIB Live. A judge hit the owners of the shuttered Century III Mall with a hefty fine Wednesday in response to the dilapidated condition of West Mifflin’s once-mighty shopping center. During a brief hearing Wednesday, District Judge Richard D. Olasz Jr. fined Century III Mall Pa. LLC and Moonbeam Capital Investments just […]
Whether you believe this is an ancient Chinese proverb or as some report, a phrase coined by politician Frederic R. Coudert in 1939, the message is clear. Times have changed, providing people and businesses alike with unforeseen challenges. It is how we respond that makes the difference. We went to the front lines to speak […]
Reprinted from RetailDive.com Dive Brief: By the fourth week of January, announced store closures across the retail industry — at 742 total — were down 65% compared to the same time last year, according to the latest counts by Coresight Research. CVS accounts for 300 of those closures. Store openings, meanwhile, stood at 1,910, a 3% increase from last […]
How communities can use funds from the American Rescue Plan Act for Vacant or Abandoned Properties The American Rescue Plan Act provides $350 billion in emergency funding for state, local, territorial, and tribal governments to respond to the Covid-19 public health emergency. This act also established the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) […]
A simple and effective approach is our backflow preventer inspection Benjamin Franklin famously advised fire-threatened Philadelphians in 1736 that “An ounce of prevention is worth a pound of cure.” In 2021, we can certainly heed the same advice when it comes to preventing changes in water pressure that can cause unwanted sewage and other contaminants […]
As the US economy continues to move forward in some semblance of recovery, the impact of rising copper prices poses a threat to commercial and industrial property owners. Dozens of stories can be found of copper theft across the United States. While some criminals may be part of a sophisticated crime ring, others may […]
There is a windfall of opportunities today that meet the criteria of a 1031 exchange. Whether you’re a commercial investor, an attorney, or an accountant that represents clients with these types of properties, there are some critical issues to consider impacting the market. A 1031 exchange allows investors to avoid capital gains taxes when they sell an […]
Commercial Asset Preservation (CAP) specializes in closed/dark property oversight, repair, and maintenance. Only CAP has the national network, experience, and detailed closed property reports to conduct recurring visual property inspections. Reference this recent article:Chain Store Age: Sephora, Cole Hann, TD Bank on best practices for maintaining dark stores Our experts look for evidence of vandalism, security […]