Condemnation Of Commercial Property
Is your business affected by eminent domain? Have you received or been served with an eminent domain lawsuit? When a commercial property is the subject of a condemnation action by a public or governmental authority, not only is the property owner affected, but any business located on the premises can suffer significant losses.
The Horowitz Law Firm PC can provide you with legal counsel and a defense if your commercial building or your leased business premises is involved in an eminent domain proceeding or lawsuit. We assist commercial property owners, tenants and lessees throughout California faced with potential losses resulting from the condemnation of a commercial property or business.
We have experience representing business clients facing eminent domain proceedings at all stages of the lawsuit process. 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, such as loss of business goodwill.
Just Compensation For Business Loss Of Goodwill
Location can sometimes determine the success of a business. While some businesses don’t need a retail location to thrive, certain businesses depend on the specific location of their brick-and-mortar venue.
Relocation of a business can result in lower profitability. Business owners may be entitled to additional compensation for this loss, which is known as business loss of goodwill or diminished goodwill.
Loss of goodwill refers to the losses a business sustains, including lost earnings during and after the relocation, that are the direct result of the eminent domain process.
An eminent domain lawyer can assist your business in demonstrating and recovering damages resulting from condemnation proceedings, starting with helping you to find a loss of goodwill appraiser or economic loss analysis expert witness.
Partial Takings, Severance Damages, Loss of Access, Fixtures And Equipment
If your property is the subject of a partial taking, you may be entitled to severance damages for the diminished value to the remainder of your property.
Additional remedies may also be available, such as damages for loss of access or diminished access, relocation assistance under the California Relocation Assistance Act, expenses for moving inventory and personal property and the valuation of “improvements pertaining to the realty” which are included within the value of the real property taken.
It must be determined if fixtures and equipment are removable or if they must be considered part of the realty. Compensation may also be available for the cost of removing and relocating the fixtures or equipment to the new business location.
Bonus Value Of A Lease
A commercial tenant may be entitled to “bonus value” for their lease, depending on its specific terms. 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 sometimes contain bonus value and goodwill clauses, which describe how these are allocated. 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.
Contact A California Condemnation Lawyer
Learn more about eminent domain law and the process of a condemnation lawsuit.
If your land or business is facing the threat of eminent domain, assert your constitutional rights. If you have been sued for eminent domain, we can help you to file the proper answer in court, and we can litigate for you. Contact The Horowitz Law Firm PC at our Sherman Oaks office for assistance. A trusted and experienced eminent domain trial attorney is available to address eminent domain or condemnation concerns for property owners, landlords, businesses and commercial tenants throughout California.