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September 2017 Archives

Due diligence and commercial real estate purchases

Ensuring that short cuts are not taken during the due diligence process can save commercial real estate buyers in Pennsylvania and around the country both time and money. The inquiries performed during due diligence may raise questions about the condition of a building or its suitability for a particular purpose, and buyers sometimes back away from the table or demand more attractive terms when property inspectors or attorneys make discoveries that shed new light on pending deals. Accountants are also called upon during due diligence to study financial documents, bank records and projections for inconsistencies and irregularities.

Commercial real estate vacancy rates continue to fall

Commercial real estate vacancy rates in Pennsylvania and around the country are expected to fall to below 12 percent by the end of 2017 as the nation's economy continues to grow and add jobs. Economic growth during the last quarter was a robust 3 percent, and the National Association of Realtors believes that even the beleaguered retail sector will benefit as a result. Retail vacancies are expected to drop by 0.4 percent by the end of 2017 while the amount of industrial space available is set to fall by 1.1 percent.

Work with experienced attorney to address issues surrounding construction contract bidding, P.2

In our previous post, we mentioned that the rules governing contract bidding are different for public contracts and private contracts. Specifically, the bidding process on public contracts is governed by greater formality and more rules, among which is the some variation of the rule that a bid must be selected based on the lowest responsible bid.