What is Commercial Real Estate?
Commercial real estate can refer to transactions in reference to property in a business context including: leasing or selling of office space or office towers, selling property as part of a sale of a company, or building a new office block. “Property” is used an umbrella term for the different types of real property. i.e. industrial, agricultural etc.
What Does a Commercial Real Estate Lawyer Do?
They specialize in property dealings including construction of development projects, contracts and agreements associated with leasing or property sales, zoning issues, and other real estate associated tasks in the commercial environment. They are experts in the state and federal legislation.
Why Would I Need a Commercial Real Estate Lawyer?
If you have ever run a business, you know that it is essential to minimize your risks as much as possible to ensure the greatest probability of success for your company. Hiring a commercial real estate lawyer will help you by knowing:
Unlike homeowners and tenants, the state does not have as many protective legislature in place for business and commercial buyers or lessors. Many states have specialized housing courts and weighted legislature to create a “tenant friendly” environment for residential dealings. Unfortunately, this is not the case in the commercial world; and without the consumer protections laws, many disputes or grievances result in difficult cases which need to be taken to state or federal court. Commercial real estate lawyers are well-versed in the representation of clients from either side of the commercial fight. It is essential to have an expert on your side to ensure protection, justice and success for your business.
Commercial real estate transactions carry significant financial and legal implications. These can have devastating effects on the life and credibility of a business. Consulting a commercial real estate lawyer can ensure that you have the all the correct documentation, public permits, and well-drafted long-term leases. They can also confirm zoning approval for industrial or commercial activity. These records are essential should it ever be necessary for you to go to court to defend your business activity. If you have ever run a business, you know that it is essential to minimize your risks are as far as possible to ensure the greatest probability of success for your company.
A commercial real estate lawyer can also protect you from the common errors and pitfalls seen in commercial property dealings. This includes:
- Zoning Restrictions: a surprisingly common problem in commercial real estate as many people do not understand the importance of ensuring that the property itself and the surrounding properties are properly zoned.
- Defects in titles: previous part ownership not properly declared, leading to invalid or incomplete transactions. A commercial real estate lawyer will be able to go through deeds and titles and pick up errors in ownership to ensure no transaction occurs.