Tom Malman was quoted in an article, "Challenges When Repurposing Office Campuses," in Law360. In the article, Malman discusses the challenges developers face when they try to convert large office campuses properties to other uses. Malman says one of the biggest challenges is zoning, particularly when multifamily properties are proposed, since multifamily has an impact on schools, and that may be a hard sell to the community. Since office demand in the suburbs is declining, developers also have the challenge of trying to predict what type of tenant might want the office space. "In most cases, the demand isn’t there," Malman said. "Unless you can convert part of the campus to some other use."
Day Pitney Real Estate Partner Daniel Diaz Leyva was featured in the Tampa Business Observer's News & Notes section regarding the recent acquisition of a retail center at Tyrone Square Mall in St. Petersburg, FL for $37.8M. Diaz Leyva represented the lender, Miami-based City National Bank of Florida.