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December 17, 2019

Appeals Court Ruling Could Have Major Impact On Construction Warranties

Preferred Apartment Communities newly appointed CEO Joel Murphy talks his transition into new leadership at Atlanta Construction and Development Jan. 9

There are many property owners, commercial and residential, who sleep better at night knowing they have a 20-year guaranteed warranty on their new roof.

But a recent Georgia Court of Appeals ruling in a case involving a leaky chemical tank 250 miles south of Atlanta could give some members of the real estate industry nightmares. The three-judge panel found that all warranties longer than eight years — even ones already on the books — are no longer legally enforceable, according to multiple attorneys Bisnow consulted.

“Owners of commercial real estate need to be very concerned about this ruling because it cuts off their warranties on their structures at eight years as a matter of law," said AGG partner Jeffrey Lewis, an attorney who worked on the case. "And it denies them their fundamental right of contract."

Appeals Court Ruling Could Have Major Impact On Construction Warranties

Lewis plans to appeal the case to the Georgia Supreme Court. But, he said, unless and until it decides to take the case, he believes that the appeals court's decision effectively voids all warranties that have been in place for longer than eight years.The impact of the decision has potentially huge…

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Developers Keep Building Offices, But Workers Are Using Fewer Of Them Than Ever

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Developers are building more office buildings today than at any point in the last decade, but the changing nature of the work could threaten long-held beliefs about the way the office market will behave as we enter the next decade.

The office construction pipeline in the U.S. at the end of the third quarter was 118.5M SF, the highest point it has reached in this economic cycle, according to JLL. All the while, the number of U.S. workers who actually report to an office — and the average…

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CRE's Biggest Flops Of The Decade

It was supposed to be a decade of recovery and rebuilding after the knockout punch of the Great Recession.

Instead, the last 10 years saw the longest bull market in history, a roaring investment climate and a stretch of innovation and discovery that changed not just commercial real estate, but the way we all live (there wasn’t always an app for that). 

But not everything was a success, and with big money in CRE comes the potential for big mistakes. Here at Bisnow, we picked 10 of the decade’s biggest flops — but don't take our word for it, let us know which of them you consider the biggest mistake below!

Read the full story here.

  CRE's Biggest Flops Of The Decade
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Want To Keep Women In CRE? Say Goodbye To The 9-To-5 Workday

As a new generation of workers enters the commercial real estate industry, experts say changing the 9 a.m. to 5 p.m. in-office workday is a key way to retain top talent.

"The 9-to-5 model is a little archaic," MAK Center for Art and Architecture Executive Director Priscilla Fraser said. "At the natural progression of life, it’s hard to continue to have the same amount of hours and that level of required presence. I think most people would agree that if you give a working mom two or three flexible hours, the working mom could accomplish things that it can take others two weeks to finish."

Read the full story here.

  Want To Keep Women In CRE? Say Goodbye To The 9-To-5 Workday
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Beyond The Bio: 16 Questions With The Instant Group CEO Of The Americas Joe Brady

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This series profiles men and women in commercial real estate who have profoundly transformed our neighborhoods and reshaped our cities, businesses and lifestyles.

Joe Brady is two weeks into his role as CEO of the Americas at flexible workplace specialist The Instant Group, a role he believes positions him at the heart of profound changes in commercial real estate. (Bonus: No one throws food at him in this job.)

Read the full story here.

 
 
       
 
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