Sherman Oaks California Commercial Property Condemnation Attorneys
Protecting California Businesses Facing Condemnation
A business can face significant losses when its commercial building is condemned for government or public use. The law office of Jeffrey D. Horowitz & Associates, Attorneys at Law, provides sophisticated legal counsel to business owners facing condemnation in the Los Angeles area and throughout California. Our attorneys also provide assistance to commercial tenants or lessees facing losses as a result of condemnation of the commercial property being leased.
Our attorneys have experience representing business clients through condemnation proceedings. Our services include helping to obtain fair market value for the property being condemned as well as seeking additional remedies available to businesses under the eminent domain laws.
Business Loss of Goodwill
In certain industries, location is paramount to the success of a business. While business may flourish at one location, revenue generated at a new location can be significantly lower. Business owners may be entitled to additional compensation for the business' loss of goodwill or diminished goodwill. Loss of goodwill encompasses any loss in business as a result of the condemnation, including losses resulting from lapse in business or reduction in business during the relocation period. Our eminent domain lawyers assist business clients in demonstrating and recovering compensation for the business' losses.
Additional remedies may also be available, such as severance damages to compensate for the diminished value to property that is only partially condemned, relocation assistance under the California Relocation Assistance Act, and compensation for the value of any lost fixtures and equipment. Compensation may also be available for the cost of removing and relocating the fixtures or equipment at the new business location.
Rights of Commercial Tenants and Landlords in Condemnation Lawsuits
Determining fair market value of a commercial lease on property being condemned can be an involved process. Depending on the terms of the lease, commercial tenants may be entitled to "bonus value" for their terminated lease. Bonus value refers to the difference between the present market value of the lease and the contract rent set forth in the lease through the end of its remaining term.
Commercial leases frequently set forth allocation of bonus value and goodwill, as well as procedures involving potential property claims that may arise. In representing commercial tenants or landlords, we first evaluate the existing lease to determine which party is in the legal position to obtain these benefits. We will then advocate for maximum compensation for goodwill, bonus value, and any other payments you may be entitled to receive.
Our combination of real estate and eminent domain experience enables us to protect clients with future commercial lease negotiations by ensuring the lease is drafted in a manner that favors or adequately protects the lessee.
Contact a California Condemnation Lawyers
Learn more about eminent domain law and the process of a condemnation lawsuit.
If your land or business is facing possible condemnation or has been condemned, assert your constitutional rights. Contact an attorney at the Sherman Oaks law office of Jeffrey D. Horowitz & Associates, Attorneys at Law, for assistance. We are available to address eminent domain or condemnation concerns for property owners, landlords, businesses and commercial tenants throughout California.
