Renegotiation of Nearly 1,000 Retail Leases for Men’s Clothing Retailer
Completed a two-phase renegotiation of nearly 1,000 retail leases across the United States and Canada for a men’s retail clothing client in connection with COVID-19 impacts and the client’s emergence from Chapter 11 bankruptcy proceedings. In the first phase, we negotiated rent deferral agreements for nearly 400 retail locations in connection with the impact of COVID-19 and related government-mandated closures on the client’s operations; and assisted with nearly two dozen litigation matters relating to closures in several states. In the second phase, following the client’s declaration of Chapter 11 bankruptcy, we renegotiated nearly 850 retail leases assumed by the client in connection with the bankruptcy proceedings, successfully finalizing and obtaining full execution of nearly 99% of renegotiated leases submitted for legal review, nearly three times the success rate the client had originally anticipated.
$10 Million Mining Operation, Real Estate Acquisition
Served as real estate counsel in approximately $10 million acquisition of mining operations and associated real estate in southwest Missouri, including negotiation of the purchase and sale agreement; drafting and negotiation of several new easement agreements for cross access, utilities and rights of way; negotiation of new mineral leases; and extensive title and survey review of approximately 880 fee-owned acres and approximately 1,000 leased acres of real estate.
Acquisition, Sale, Leaseback of Properties in Illinois, Tennessee
Conducted extensive diligence of title, survey, environmental and property condition issues for a national manufacturing client with respect to a 200,000-square-foot industrial/office facility in Illinois and a 50,000-square-foot industrial/office facility in Tennessee. This included drafting, negotiating and closing acquisition of land and facility; and negotiating, drafting and closing sale and leaseback of land and facility to a national private equity firm.
Acquisition of Transmission Line Easements for Energy Client
Assisted client in securing transmission line easements by negotiation and condemnation.
Borrower’s Counsel on $46 Million Real Estate Loan
Served as borrower's counsel on a $46 million real estate loan secured by a 312-unit multifamily residential development.
$55 Million Sale of Advertising Company
$55 million sale of advertising company to public company. The asset sale transaction involved the sale of rights in over 400 locations in four states, the transfer of over 1,000 advertising contracts, and the sale of two commercial buildings. The team helped the client navigate various corporate governance issues and achieve its goal of selling the business.
Acquisition of Electrical Contracting Firm
Counsel to buyer in the acquisition of an electrical contracting firm, largely owned by an ESOP and subject to a multi-employer pension plan. Combination with mechanical contracting business of the buyer resulted in a combined business with approximately $100 million in annual revenues.
Approval of Special Tax District
Secured tentative approval for a special tax district for redevelopment project being developed by client company. The district would levy a 1 percent sales tax on goods sold in the 22-acre district. It would expire at the end of 2043 or once it reached a limit of $4.5 million.
Reduction in Appraised Value of Property for Client
Prevailed on a tax appeal before the St. Louis County Board of Equalization. The client, an operator of a composting and mulching facility, was challenging the appraised value of the land being used for the facility. We received a reduction of more than 50 percent in the appraised value of the property, which will save the client in excess of $75,000 in real estate taxes over the next three years.
Review of 480 Leases for Grocery Store Chain
Conducted a lease review for a national grocery store chain, consisting of approximately 480 leases across the country with a wide range of landlords and terms. This involved flagging construction and improvement rights, maintenance and repair responsibilities, approaching renewals and incomplete files.
Regulatory Analysis for New Product Offering
Conducted analysis of state regulations applicable to a new product offering by a national real estate brokerage. This included analyzing state real estate agency disclosures and obligations, and preparing and revising state disclosures and marketing materials.