Monthly Archives: August 2016

Pennsylvania pot laws may affect real estate

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Aug 6, 2016.

Pennsylvania recently joined a host of other states in legalizing the use of marijuana for medical purposes, and businesses are chomping at the bit to be some of the first to participate in the new industry. Although the law was signed on April 17, Governor Tom Wolf says that even those residents who qualify to receive medical marijuana products will not be able to do so until those products are produced within Pennsylvania. The new business sector means many new businesses will be vying for permits to grow the crop, not to mention the ancillary businesses which may have to acquire special licensing for extracting, processing and packaging medical marijuana products.

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Altered-reality technology and commercial real estate

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Aug 6, 2016.

Commercial real estate investors and developers in Pennsylvania may already be aware of the ways in which augmented reality technology is expected to impact the industry. The technology is already growing by leaps and bounds, thanks in part to the game Pokémon Go, which utilizes augmented reality technology to create the game in the real world around the player, via the camera of his or her mobile device. The game has seen rapid success. Nintendo, which owns the rights to Pokémon, has increased its market cap by $20 billion since the game was released July 6.

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Easements may cause issues for property owners

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Aug 4, 2016.

An easement is a property right that may affect you whether or not you own real property in Pennsylvania. Briefly, an easement is an agreement that allows one party to use, for a particular purpose, the real property of another. While many easements are simple in principle or effect, the agreements creating and enforcing easements should be carefully crafted because they alter real property ownership rights.

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E-commerce may be affecting commercial real estate prices

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Aug 2, 2016.

Commercial real estate investors in Pennsylvania have probably noticed that prices are beginning to go sideways. After the recent real estate boom caused prices to increase to more than double what they were at in 2009, commercial real estate price increases started to slow down. Some of the factors that may be contributing to the leveling off of real estate prices are decreased job growth, increased supply from new construction and talks of higher interest rates.

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