If you’re new to purchasing commercial real estate, you may not be familiar with a letter of intent (LOI) and the role it plays in the transaction. If you’re interested in a property, though, an LOI will be one of your first steps in seeking to purchase it. An LOI...
Real Estate Law
2 things you should know about distressed commercial property
Understanding the nuances of distressed commercial properties can be a game-changer for investors and entrepreneurs in real estate. These properties often present unique opportunities, but they come with their own set of challenges. Distressed commercial properties,...
The benefits of owning your business headquarters
Despite a significant increase in online trade in recent decades, many businesses still like to operate from headquarters. This could be an office building, workshop or store. Commercial real estate is typically owned outright or leased. Committing to either option...
You can avoid long-term vacancies with short-term renters
No commercial property owner wants any of their spaces to remain vacant for long. Empty spaces mean lost rent. If you have a commercial property that’s largely retail space or a mixed-use property with office and retail spaces, your tenants often depend upon each...
Is the “urban doom loop” inevitable?
The state of some cities’ downtown areas has been perilous for some time now. This wasn’t helped by the fact that many businesses encouraged or even required their employees to work from home or other remote locations beginning in 2020. The overall trend toward a...
Why commercial property owners need to be planning for 2035
Slowly but surely, electric vehicles (EVs) are becoming more common on our roads. The number of new EVs purchased in the U.S. quadrupled just between 2019 and 2022. That number is sure to rise significantly as we get closer to 2035. That’s when New Jersey will begin...
3 things New Jersey commercial lease tenants should do
Obtaining a commercial space that meets your business needs can be challenging. You must consider many things during your search for commercial property, such as: Location Size Price Lease terms Once you find a place that meets your needs, it is time to begin creating...
Your obligations to tenants when you sell a commercial property
If you own commercial property in New Jersey with multiple tenants, what are your obligations to them if you sell the property? Whether it’s an office building, a shopping center or a mixed-use property, it’s crucial to understand your responsibilities under the...
Am I allowed to sublease a commercial property?
Leasing commercial property is usually much more expensive than renting residential property. This is because commercial property tends to be much bigger and is intended for businesses. So when circumstances lead business owners to scale down, move elsewhere, or shut...
A buyer’s checklist when buying commercial property in NJ
Owning a piece of commercial real estate in Passaic, New Jersey can be a significant achievement. But while ROI on commercial real estate can be attractive, this type of investment (like any other) comes with its share of risks. And this underpins the importance of...