If you are considering a commercial lease, especially in a structure that houses multiple commercial tenants, there are number of reasons that it is wise to consult an experienced attorney before signing anything. If you don't take advantage of every opportunity to work the agreement in your favor and identify potential problem areas, you may be signing an agreement that is very hurtful to you and your business.
When it comes to commercial real estate, the complexity of many of the transactions can lead to some exceptionally intricate deals. Often, in the course of a commercial venture, the lines can blur between where one side of the deal begins and where the other side ends, especially when there are multiple parties involved in the transaction. Needless to say, this creates a potential for many serious conflicts of interest.
One of the most frustrating and constricting aspects of searching for a commercial property to buy or rent for your business is the possibility of finding the "perfect place," only to lose it again due to some zoning issue. Not all businesses can operate in just any location, especially in California, which is generally more heavily regulated across all sectors than other states. Of course, many regulations and restrictions can be gotten around using a variance or falling under a non-conforming use allowance.
As big box stores and the great American shopping mall continue to struggle in the new economy, some of the industry's biggest players are choosing to throw in the towel. J. C. Penney, which has long been one of several brands that anchored many malls across the country has moved forward with plans to close stores in many locations, including three in California. While this is certainly tough news for loyal customers, these kinds of closings for anchor stores can affect others as well -- especially smaller vendors in malls losing an anchor store.
If you're launching or expanding your brick-and-mortar business, you may be wondering if buying or leasing a space is right for you. Both offer distinct advantages and liabilities, which will determine which path is best for your circumstances. There is no one-size-fits-all solution, so it is wise to consider all sides of the issue before you make a move.
If you are approaching the renewal phase of your commercial lease, there are a number facets of the lease that you may want to consider negotiating with your landlord. Of course, not all landlords are interested or willing to negotiate a lease, but in the commercial real estate world, it is common to negotiate at least some aspects of the agreement. As with all business negotiations, it is always wise to have proper legal guidance when entering into such a negotiation.
California has been one of the most socially and politically liberal states in the union for a number of years, often leading the cultural conversation in progressive measures and mindsets. Heading into the November elections, some analysts predicted that a win for Donald Trump and the rest of the Republican party might have overly negative effects on various business sectors, especially commercial real estate. However, as November falls further and further behind us, the numbers seem to indicate that there has been no great change in many business patterns, at least for the time being.
One of the most difficult aspects of launching or expanding your business is finding the right location that serves your needs and is actually available to lease. Even once you find something that seems perfect, you may run into a further dilemma — zoning. Not all buildings allow all kinds of businesses to operate in them, and if you're not careful when researching a property, you might end up with a lame duck of a lease on your hands. It is crucial to fully understand the zoning laws that affect your lease location to ensure that your business can freely operate and flourish there.
The commercial real estate world is almost certainly going to experience some major seismic shifts over the next few months and years, if early indications about the directions the Trump administration will take legislation and industry regulation hold true. It is, of course, impossible to know exactly how it will all shake out, but there is plenty of evidence to suggest that interest rates that have remained at near-rock-bottom for several years will probably begin to creep back upward. Furthermore, the very nature of commercial lending may be migrating its venue significantly.
Even though same-sex marriage has become legal nationwide, some people might still opt to use a domestic partnership as the legal basis for their cohabitation agreement. The domestic partnership has some benefits that you should be aware of so that you can decide if this is an option that you want to consider.