Real Estate

Cole Schotz’s Real Estate Department is recognized as one of the preeminent real estate practices in the Northeast. Cole Schotz represents clients in the acquisition, development, financing, leasing, sale and brokering of retail, office, industrial, hotel, health care and residential properties, including obtaining land use approvals and filing tax appeals. Our diverse client base includes landlords, tenants, lending institutions, private lenders, developers, sellers, purchasers and investors.

Over the past decade our Real Estate Department transitioned from a premier real estate practice within New Jersey to a practice group equipped to provide representation for major national and international transactions. We recognize that the success of our practice depends on our ability to recognize key factors and trends that drive the market and influence client transactions.

Chambers USA 2006 described Cole Schotz as a “dynamic player on retail transactions and leases. Peers respect the size and expertise of the team. This firm can rightfully claim to be ‘a big player’ throughout New Jersey.”

Acquisition and Sales

• Site selection
• Negotiation of both purchase and sale agreements
• Acquisition and disposition of retail store divisions
• 1031 Tax Deferred Exchanges
• Due diligence for office, shopping center and industrial properties

Development

• Land use - zoning, site plans
• Environmental audits and issues management
• Subdivisions
• Construction contracts
• Architect’s agreements
• Appearance before government agencies and boards to obtain approvals for site plans, subdivisions, variances, riparian grants and highway access permits
• Reciprocal easement agreements
• Common area maintenance agreements
• Development agreements
• Construction management agreements
• Condominium/cooperative public offerings
• Joint ventures

Financing

• Real estate loans, including securitized loans
• Facilitation of financing
• Loan workouts
• Syndications
• Sale-leasebacks
• Government-assisted financing
• Commercial and residential mortgage review for lenders
• Representation of lenders and borrowers

Leasing

• Significant practice in office, retail and industrial leasing, representing landlords, tenants and subtenants
• Negotiation of complex leases and subleases
• Ground leases
• Build-to-suit and reverse build-to-suit leases
• Joint ventures

Tax Appeals

• Industrial
• Office buildings
• Retail properties

Cole Schotz has been instrumental in the development of New Jersey's Gold Coast. The Gold Coast, among the most desired urban locations in the United States, runs along the western shores of the Hudson River through Bergen and Hudson Counties, and features expansive, full views of the Manhattan skyline. In 2005, we assisted numerous developers, both national and local, as well as institutional investors, including Wall Street investment banks, in developing or purchasing various residential, retail, office and mixed-use projects. We also handled the leasing of retail, office and residential space and the conversion of condominiums at these locations. These projects involved complicated financing and regulatory issues. We have guided our clients through the local, county, state and federal programs that impact their investments.

We represented a NASDAQ traded provider of specialty consumer finance and asset management services, in the negotiation of a sublease with Lehman Brothers Holdings Inc. for an entire floor of a “Class A” office building located in the financial district of Jersey City, New Jersey, as well as a direct lease for additional space and an extended term with the building’s owner, Mack-Cali Realty Corp. This transaction has allowed our client to relocate their executive and main administrative offices from Manhattan to this new location. We also counseled the client in connection with the process of it being certified in the Jersey City Urban Enterprise Zone, which will allow our client advantageous tax treatment, and in the surrender of a lease for surplus space in Manhattan.

One of the world’s largest suppliers of slippers and children’s footwear, was selling its corporate office, manufacturing and warehouse facilities located in Hackensack and Bogota, NJ. We negotiated a sale of the Bogota warehouse facility to an adjoining property owner after the successful resolution of litigation brought by that adjoining property owner. In addition, we negotiated a sale of the corporate office, manufacturing and warehouse facilities in Hackensack to Bergen County for use as a new police headquarters and central municipal court. Finally, we represented the company in the negotiation of a new ten-year lease for 22,300 square feet of office space in Hackensack for the location of the client’s new corporate headquarters.

We represented an affiliate of a major New Jersey shopping center owner and developer in connection with the negotiation of a lease surrender by Barnes & Noble, and a long-term replacement lease with a publicly traded company, Golf Galaxy, Inc., for high-profile retail space on Route 17 in Paramus, NJ. The surrender agreement and replacement lease were negotiated and finalized in one month.

We represented a private real estate holding company in the refinancing of a $8.25 million mortgage loan for a multi-tenant office building located in Morristown, NJ and in the refinancing of a $12.2 million mortgage loan for a multi-tenant office building located in Montvale, NJ.

We represented a global sales and marketing consulting firm in negotiating a lease for its first Manhattan office, at 2 Grand Central Tower.

A Fortune 500 company sought our assistance in the negotiation of a contract of sale for a 122,880 square foot manufacturing, office and warehouse facility in Hancock, NY. In addition, we represented the company in the termination of a sublease, and the negotiation of a direct lease, for 37,047 square feet of office space located in Massachusetts.

We represented a real estate client in the negotiation of 23 leases in two office buildings located in Hackensack and Fort Lee, NJ.

We represented the landlord in negotiating a lease for ground floor and basement retail space, to a national retailer, in SoHo.

• Gary Albrecht named to "40 Under 40" by Real Estate New Jersey
• Chambers USA recognizes Cole Schotz's real estate practice
• Richard Abramson and Michael Leighton profiled in Real Estate New Jersey

• Development Hurdles in Mixed-Use Projects, Cole Schotz Docket
• Letter of Intent Can Be Key Step in Reaching Deal, The Record
• Supreme Court Ruling Limits Redevelopment Law's Eminent Domain Power, Cole Schotz Docket
• Answering Common Questions in Negotiating Letters of Intent, Cole Schotz Docket
• But Is It a Franchise?, Cole Schotz Docket