Commercial Real Estate News! Key legislation impacting Commercial Real Estate passed in 2024, going into effect in 2025. Take note of Assembly Bill 98: Severe Warehouse Development Restrictions, and Senate Bill 1103: Commercial Leasing Mandates.

Assembly Bill 98 introduces strict regulations on logistics and warehouse facilities in California, imposing costly design, operational, and environmental standards. These changes could hinder the growth of the logistics industry, which is a vital part of the state’s economy.

Senate Bill 1103 introduces new leasing requirements in California and applies to Qualified Commercial Tenants, including microenterprises, small restaurants, and certain nonprofits. These requirements include new notice periods for rent increases, translation requirements for lease agreements, and more.

Read more on BOMA California‘s page here: https://cbpa.com/BOMA-Cal-2024-Legislative-Summaries