Renting commercial property makes sense for some Arizona businesses. The process of negotiating a commercial real estate lease, however, might not make as much sense. This is mainly because there is not necessarily a standard for these agreements, and many of their provisions are subject to numerous factors.
Since the housing market crash in 2008, the state's real estate market has been slowly recovering. As in many other states, our neighbors in the country to the north invest in real estate here in Arizona. Whether it is commercial property, residential property or multifamily property, there are certain considerations that need to be handled in any commercial real estate transactions.
When two Arizona companies enter into a real estate transaction, there are many facets that need to be addressed and issues to be resolved. Sometimes, however, the parties are unable to come to an agreement, or one party fails to fulfill the terms of an already signed agreement, and it may be necessary to mediate, arbitrate or litigate that dispute. Litigating commercial real estate transactions can get complex, time consuming and expensive quickly, so no business should attempt to face these issues alone.
When a brick and mortar Arizona business is looking to buy a piece of real estate, coming to an agreement with the current owner becomes a necessity. Commercial real estate transactions can be complex, and you will most likely need help in ensuring that you are getting the best terms possible. An improperly drafted or inadequate agreement could spell disaster for your business at some point in the future.