Latest News

• COMMERCIAL RENT DEFERRAL / LEASE BREAK BILL STALLED IN COMMITTEE
• STATEMENT ON SB 939 BEING HELD ON SUSPENSE
• THANK YOU TO EVERYONE THAT SUPPORTED THE EFFORT
• LONG WAY TO GO – MUST CONTINUE TO PAY ATTENTION

We are pleased to report that SB 939 (Senator Wiener) did NOT pass the Senate Appropriations Committee today, which means the bill will no longer move forward. NAIOP took a strong and active position in opposition to this bill, which would have been highly detrimental to commercial landlords and set a dangerous precedent for the status of existing lease agreements in the state. 

NAIOP SFBA’s hosted an exceptional weekly Zoom-I webinar on May 28th. The program, A View From a Retailer, featured a candid discussion about the massive challenges retail tenants are facing as a result of the COVID-19 crisis and how they are working with landlords to find creative solutions. Laura Sagues Barr, Senior Vice President, CBRE, moderated a panel which consisted of some the best retailer minds in the Bay Area including:

James Nicholas, Co-Founder & Managing Partner, Big Night Restaurant Group

Dana Bloom, CEO, Proper Food

Adam Shane, Chief Development Officer, Barry’s Bootcamp

• SB 939 – ABROGATES COMMERCIAL LEASES; ALLOWS ONE PARTY TO UNILATERALLY BREAK A LEASE
• CCRES 2020 SUMMARY
• SB 939 – MORE INFORMATION
• OP/ED SB 939 WOULD HARM BUSINESS, CRIPPLE REAL ESTATE AND CAUSE JOBS LOSS
• CBPA JUNE BOARD MEETING
• MORE BUSINESS CLOSURES? MORE LOST JOBS? NO THANK YOU! STOP SB 939
• CBPA 2020 CALENDAR

Listen as NAIOP SFBA President, Dave Karol and NAIOP SV President Dick Scott speak up against SB 939, share how landlords are already working to support their tenants, and call on the legislature to instead pass legislation that balances the needs of both tenants and property owners.

NO ON SB 939 WEBSITE AND DIGITAL AD NOW LIVE – YOU CAN HELP!

The bill that would nullify leases and require you to go without rent for many months, took another step today in the Legislature. We need your help to stop it!

Click here to visit the Stop SB 939 (Wiener) website and learn more.

Please forward this website link to your member companies and/or your employees. Encourage them to:

• Click on the link and send the pre-populated letter to their local Senator Take Action
• If they have a Twitter account, click on the link to send a pre-populated tweet. Tweets are particularly helpful because they are in the public domain and the legislator knows that the public can see them as well. 

A large coalition of groups is supporting our industry to stop this measure. Please help by getting information out far and wide.

NAIOP, a premier commercial real estate development and owners association, announced its opposition to California Senate Bill 939.  SB 939 is pending before the state legislature and threatens to replace a loss in business revenue problem with a statewide commercial mortgage crisis.  If passed, SB 939 would, on a statewide basis, give commercial tenants a unilateral termination right, with no future obligations, including by their third-party guarantors, upending previously reliable contractual obligations. In doing this, it sets a dangerous precedent, undermining the validity of existing, mutually negotiated lease agreements in the state.

• COMMERCIAL REAL ESTATE UNDER UNPRECEDENTED ATTACK
• SECOND SPLIT ROLL PROPERTY TAX MEASURE QUALIFIES FOR BALLOT
• ACTION ALERT! SB 939 WOULD NEGATE LEASES ACROSS THE STATE!
• SB 939 WOULD CAUSE A COMMERCIAL MORTGAGE DEFAULT CRISIS
• SHOPPING CENTER INDUSTRY DEVASTATED BY COVID-19
• JUDICIAL COUNCIL REVISES/IMPROVES RULE 9 IMPACTING CEQA
• CALIFORNIA COMMERCIAL REAL ESTATE SUMMIT
• CBPA 2020 CALENDAR

NAIOP SFBA’s weekly ZOOM-IN webinar on May 21st focused on the state of Bay Area multifamily market and featured some of the region’s most prominent developers and investors. Moderated by Jason Parr, Managing Director, Multifamily Advisory Group, Cushman & Wakefield, the program included a market overview by David Bitner, Vice President America’s, Head of Capital Markets Research, Cushman & Wakefield. Panelists included: Pat Calihan, Senior Vice President of Investments, Prometheus; Mike Ruiz, Vice President, Investments, Northern California and Pacific Northwest, Carmel Partners;and  Zach Felson, Vice President, Investments, Prado Group.

Just a few days ago, SB 939 passed the Senate Judiciary Committee on a minimum number of votes.
We remain opposed to the bill as the amendments taken so far do not sufficiently address our concerns. We anticipate a battle once the Legislature continues its discussions and ultimately moves toward a vote before June 26th.

NAIOP members should be aware of recently proposed California legislation, SB 939 introduced by Senator Scott Wiener (SF), and its potential for having a significant impact on existing commercial leases.  If passed, SB 939 would place small property owners into foreclosure by forcing them to float rent for all tenants and gives restaurants the right to walk away from a lease without squaring up for owed rent or paying for property improvements

NAIOP SFBA’s hosted its sixth weekly ZOOM-IN webinar on Thursday 5/14: A California Legislative Update featuring Rex Hime, President and CEO, California Business Properties Association (CBPA). The Chapter actively participates in the work of CBPA as NAIOP’s designated legislative advocate in California. Hime provided detailed updates and analysis of CBPA’s efforts to defeat the 2020 split-roll tax initiative as well as two COVID-19 bills currently before the California Legislature.