Real Estate Lawyers Fret Over Law
Lawyers representing shopping centers and advocates for retail projects discuss legislation that was passed in California that would require ‘big box’ stores that sell groceries to pay for economic impact reports of their proposed developments.
SB 469, authored by Sen. Juan Vargus, D-San Diego would require cities and counties to weigh the impacts of superstores such as Wal-Mart and Target on the jobs and retail markets of local communities.
Cox Castle & Nicholson's Gary Glick, who represents developers of shopping centers, office and commercial landlords and major tenants in development leasing deals, told the Daily Journal, “I think this sets a bad precedent. You don’t really want the state, which is the farthest removed from fully understanding how each city operates, creating this massive overlay of land use regulations.”