Here’s what a commercial real estate attorney can do for you
The intricacies and complexities of commercial real estate require considerable understanding and experience with business and real estate law, real estate transactions, and financial and tax issues. Enter the commercial real estate attorney.
Commercial real estate purchases
Both buyers and sellers strive to obtain the best possible real estate purchase terms in order to support their business goals. A commercial real estate attorney is well-versed in potential problems that may arise in the negotiation and real estate purchase process, and understands how to address these issues before they escalate into problems that can lead to broken deals.
Commercial property leasing
Leases are far more complicated than most people are aware. The lease agreement is a critical component of any landlord-tenant relationship because a well-crafted lease should clearly specify all terms and conditions, and eliminate ambiguity which tends to lead to misunderstandings and friction.
An experienced and knowledgeable commercial real estate attorneys can assist with:
- Industrial leases—for such premises as warehouses, storage facilities, data centers, call centers, and other industrial properties.
- Office leases—for businesses of all types and sizes.
- Retail leases—for malls, restaurants, and stores.
- Mixed-use leases—for entertainment centers, health clubs, movie theaters, and other properties.
Perhaps one of the most important functions of a commercial real estate lawyer is in negotiating lease terms to reduce the potential for costly and time-consuming litigation down the road. However, this is not the end of the attorney-client relationship. Keeping a good commercial real estate attorney on your virtual team is helpful if lease terms need to be renegotiated, if one party wishes to obtain an amendment to the lease, or should one party wish to terminate the agreement.
Landlord-tenant disputes and evictions
For landlords, owning commercial rental property is a business endeavor that involves revenues and expenditures. If a tenant is not paying rent, is interfering with other tenants, or is otherwise failing to perform their duties as specified within the lease agreement, the property owner’s bottom line can be severely impacted. Likewise, commercial tenants faced with landlords who do not live up to their end of the lease can also find their businesses jeopardized.
Whether a small business or a large corporation, utilizing the services of a commercial real estate attorney is vital when the landlord-tenant relationship goes off the rails. Getting an attorney involved early in any disputes will save time, money, and aggravation.
If a dispute cannot be resolved satisfactorily, the last resort is early termination of the lease by the tenant, or eviction proceedings brought by the landlord. Either of these outcomes requires qualified legal representation to avoid costly pitfalls – namely, lengthy and expensive litigation and a the risk of a judgment for a potentially crippling amount of damages.
Do you have questions about a commercial real estate purchase or commercial lease agreement? Contact South Bay Commercial Real Estate Attorney Barbara Craig to schedule a free consultation. Serving clients in the South Bay area including San Pedro, Rancho Palos Verdes, Lomita, Harbor City, Torrance, Wilmington, Long Beach, and other nearby communities.