[Excerpt from AzBigMedia.com]
Real estate law trends to watch this year
Political and economic uncertainty has defined the past year.
With Arizona’s economy showing signs of growth amid low inflation, it seems like a crane casts a shadow over every intersection in downtown Phoenix.
But we are still dealing with an evolving and distressed retail segment and most pencil-pushers are still struggling to understand the implications of President Donald Trump’s changes to the tax laws.
But that’s not the only legal issue we need to be watching. AZRE spoke with some of the great legal minds in commercial real estate to find out what trends and issues they say we should look at before making that next deal.
Gammage & Burnham
Real estate leader: Grady Gammage, Jr., founding member
History of success: Gammage & Burnham has the unique combination of a large land use group and a large real estate and financial transactions group that work together as one team of highly talented lawyers. While Gammage & Burnham is very efficient at routine matters, the firm is also known for being the firm to hire when a project has unique challenges or requires special skills.
Trend to watch: “One big issue we see facing commercial development is the disconnect between the price a user can pay and the rising costs of land and development. Another issue we see is the rise in opposition to entitlements, particularly through the use of social media, which requires an experienced team to help create an effective outreach and communications strategy as part of a successful entitlement process.”
Recent project of note: Mirabella at ASU is just one good example of how Gammage & Burnham’s land use, real estate and financing teams work together to bring a client’s vision to reality. Mirabella at ASU is an innovative “Life Plan Continuing Care Retirement Community” on Arizona State University’s Tempe Campus. Gammage & Burnham represented Mirabella at ASU through the zoning, transactional and financing process, which included $250 million in tax-exempt bond financing for the construction of this 20-story residential building.
See the full article on real estate law trends to watch for 2018.
Click here to read more about Gammage & Burnham’s work with the Mirabella at ASU project.