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Real Estate & Construction News Roundup (8/6/24) – Construction Tech Deals Surge, Senators Reintroduce Housing Bill, and Nonresidential Spending Drops

September 16, 2024 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, cybersecurity attacks target contractors, U.S. banks report weaker profits, additional commercial real estate is distressed, and more!

Spending dropped in almost half of nonresidential subcategories in June, with the decrease stemming from higher interest rates, tighter credit conditions and a softening economy. (Sebastian Obando, Construction Dive)
Despite the decline in investment dollars for construction technology, the number of deals surged by 18% year-over-year, indicating sustained interest and activity in the sector. (Sebastian Obando, Construction Dive)
As cybersecurity attacks on U.S.-based businesses ramp up, general contractors are not immune. (Jen A. Miller, Construction Dive)

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Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Court Dismisses Cross Claims Against Utility Based on Construction Anti-Indemnity Statute

August 14, 2018 — David R. Cook - Autry, Hall & Cook, LLP
When a plane crashed and several passengers and crew died or were injured, their representatives sued several defendants, including a nearby plant owner, Milliken & Company (“Plant Owner”), based on claims that transmission lines on Plant Owner’s property were too close to the runways, were too high, and encroached on the airport easements. Plant Owner cross claimed against utility owner, Georgia Power Company (“Utility”). Plant Owner’s claim was based on an easement it granted to Utility, which required Utility to indemnify it for any claims arising out of Utility’s construction or maintenance of the transmission lines. In defense, Utility argued that the easement’s indemnity provision violated Georgia’s construction anti-indemnity statute. Read the court decision
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Reprinted courtesy of David R. Cook, Autry, Hall & Cook, LLP
Mr. Cook may be contacted at cook@ahclaw.com

Baby Boomer Housing Deficit Coming?

October 29, 2014 — Beverley BevenFlorez-CDJ STAFF
According to Builder magazine, a new study by Epcon Franchising and Metrostudy found that “10 metro areas are expected to have a significant housing gap for baby boomers.” Furthermore, “52 percent of new-home buyers will be over 55 in the next five years.” Builder listed the top 10 markets that are expected to have a baby boomer housing deficit. The top three are Dallas-Fort Worth, Houston, and the District of Columbia. Read the court decision
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One Sector Is Building Strength Amid Slow Growth

November 18, 2019 — Michael Msika - Bloomberg
If you had to guess which stocks are posting top gains given this year’s gloomy economic outlook, you might be surprised by the answer. Construction and material shares, despite most macro indicators pointing to slowing global growth, are now leading the pack in Europe. The sector’s up 32% already this year, knocking food-and-drinks stocks off the pedestal, and there appear few signs of the rally stopping anytime soon. Read the court decision
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Reprinted courtesy of Michael Msika, Bloomberg

Real Estate & Construction News Round-Up 01/26/22

February 07, 2022 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
The future of traditional real estate skills for virtual land buys is questioned, China’s property sector might experience policy easing, U.S. commercial real estate sales set records in 2021, and more.

As the platforms and business case for virtual land buys mature, the future of traditional real estate skills remains unclear when it comes to managing virtual ownership and development. (Patrick Sisson, Bisnow)
China’s real estate sector is likely to see “significant easing” in the policies that govern it after stricter financing rules for property development set in 2020 were met with debt, causing a contraction in the market. (Reuters)

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Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Trump Abandons Plan for Council on Infrastructure

August 17, 2017 — Mark Niquette - Bloomberg
President Donald Trump will not move forward with a planned Advisory Council on Infrastructure, a person familiar with the matter said Thursday. The infrastructure council, which was still being formed, would have advised Trump on his plan to spend as much as $1 trillion upgrading roads, bridges and other public works. Its cancellation follows Trump’s announcement Wednesday that he was disbanding two other business advisory panels. Read the court decision
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Reprinted courtesy of Mark Niquette, Bloomberg

Congratulations to BWB&O’s 2023 Mountain States Super Lawyers Rising Stars!

August 07, 2023 — Dolores Montoya - Bremer Whyte Brown & O'Meara LLP
BWB&O is excited to announce Las Vegas Partners Devin Gifford and Madeline Arcellana have been selected in the 2023 Mountain States Super Lawyers list as Rising Stars for their work in Civil Litigation. To read Super Lawyers’ digital publication, please click here. SELECTED AS RISING STARS Devin Gifford: 2023 Madeline Arcellana: 2023 Read the court decision
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Reprinted courtesy of Dolores Montoya, Bremer Whyte Brown & O'Meara LLP

Hyundai to Pay 47M to Settle Construction Equipment's Alleged Clean Air Violations

November 04, 2019 — Tom Ichniowski - Engineering News-Record
Hyundai Construction Equipment Americas Inc. and its parent company are paying a $47-million civil penalty to settle federal allegations that the company sold construction vehicles that weren't certified to meet the appropriate Clean Air Act emissions standards, federal agencies say. Reprinted courtesy of Tom Ichniowski, Engineering News-Record Mr. Ichniowski may be contacted at ichniowskit@enr.com Read the court decision
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