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California commercial real estate market is growing

Leaders in California's commercial real estate industry say that there is a bright future ahead of them; for the next few years, at least. A recent UCLA Anderson Forecast poll showed that professionals believe that the market will grow steadily for the next two or three years. Growth will continue after that, they say, but at a slower pace.

Real estate agreements are executed with a series of contracts between individuals, developers, contractors, insurance companies and more. Even in the healthiest of markets, sometimes deals collapse, contracts are breached and litigation happens. Common issues in commercial real estate that lead to litigation include failure to disclose known defects such as leaky roofs or termite infestations, or known conditions such as high crime areas and vandalism.

Other sources of contention in the commercial real estate arena involve breach of contract disputes arising from business-to-business purchase or sale or lease agreements. Construction contractor disputes may also include breach of contract issues, as well as change order disputes, contractor license bonds, mechanic liens and post-construction issues.

Breach of contract disputes are often settled out-of-court with alternative dispute resolution (ADR). Many attorneys are encouraging ADR and are now offering ADR services in addition to representation in court. ADR is a method of resolving issues outside of the courtroom with the assistance of a neutral third party. Third party mediation is based on both sides working out a compromise that will produce favorable outcomes for each.

As shown, the world of commercial real estate is a vast one, filled with many different needs and expectations. It is not only a growing market, but also a complex industry that relies on experience in business, construction and legal matters.

Source: Los Angeles Times, "Steady gains predicted for California commercial real estate market," Cale Ottens, July 10, 2013

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