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Yesterday, SB 939 was officially defeated in the California State Senate committee. If passed, the bill would have placed an eviction moratorium on commercial leased in addition to allowing tenants to renegotiate their lease terms or terminate their lease without any penalty. The commercial real estate community ardently opposed the bill, including NAIOP SoCal. The organization played an active role in defeating the bill, mobilizing its members and educating the industry on the content of the legislation.

“We credit the immense outreach of the commercial real estate industry in their efforts to educate California State Senators as to the negative impacts of this bill,” Stephane Wandel, NAIOP SoCal legislative affairs vice chair, tells GlobeSt.com. “It shows what we can achieve when we use our collective voice. Hopefully now the Legislature will concentrate on finding a balanced approach that will benefit all impacted parties, tenants and property owners, to assist in bringing back jobs to California.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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