Commercial; sale, fraud, misrepresentation, as is, disclaimer, caveat emptor; defects; damages; jury demand; jury waiver; agency; Civ.R. 52; manifest weight; parol evidence; spoliation. In determining damages for fraud in a commercial real estate transaction, the essential inquiry is whether the damages sought are reasonable, and whether competent evidence of damages has been presented to establish with reasonable certainty an amount sufficient to fully and fairly compensate the aggrieved party. The manifest weight of the evidence did not support the trial courts decision that plaintiff failed to prove some of his fraud claims. Those fraud claims were not precluded by the doctrine of caveat emptor. The parties contractual jury waiver was not ambiguous and was enforceable.
Real Deals: A Look at Important Real Estate Transactions - Brief article
A few years ago, Bendix Commercial Vehicle Systems LLC was bought by a German company, and in that transaction, Joe McAleese, who serves as Bendix's president and CEO, had to shift his company's focus from a quarterly, profit-driven mentality to a long-term, double-digit revenue growth outlook. To keep the company moving forward during the tough time, McAleese and his team took a processed approach to changing Bendix by getting all of their options on the table, making the right decisions, communicating with employees and then moving forward. [...] we can come to grips with it, we can't go out and communicate it and execute it properly, so it's getting us past that emotional hurdle that it's an acceptable option for the short term - not the long term but for the short term.
Over the past four years, Oklahoma commercial real estate brokers have enjoyed some of the lowest capitalization rates seen in the market in quite some time, resulting in record-high purchase prices. However, the changes in the national economy and in the financial markets have caused average rates to rise over the past 12 months. The days of commercial property transactions with capitalization rates under 8 percent appear to be dwindling. Since 2004, it has been quite common to see commercial property transactions in the 6- to 8-percent range. There were many triple-net leased retail deals that earned aggressive prices equal to capitalization rates of just over 6 percent, which was relatively unheard of in the market. Now, with lenders pulling back the reins to extremely tight levels, ...
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