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Understanding Commercial Real Estate Leasing

One of the most complex aspects of trying to keep your business operating without interruption is dealing with leasing your commercial real estate in Ponte Vedra. As a business owner, you want to find a location that brings in the clientele you are looking for while also ensuring you are not overspending on your rent. This juggling act can feel like a challenge, especially when you consider how much space you need now and in the future. It is not, however, impossible to walk away with that perfect lease situation, as long as you correctly understand the paperwork you are signing.

When it comes to your commercial lease, you need to properly understand all of the tiny details included in your paperwork, including what expenses you are liable for, parking space, and zoning. While the tricky terminology included in a lease might leave you scratching your head, if you have a skilled real estate attorney working with you, you will find the entire transaction much less stressful.

What to Look for When Signing a Commercial Lease

When you are looking to sign a lease, you need to make sure that there are not any surprises coming your way. Working with your real estate attorney, do your due diligence to research the following:

  • What Expenses Will You Be Liable For?
  • Thoroughly Inspect the Background of Your Landlord or Property Management Company
  • Talk to Other Tenants About the Quality of Service They’ve Received
  • Ascertain Whether or Not Your Building Is Up to Safety Code
  • Make Sure Your Unit Is Properly Zoned for Your Type of Business
  • Know All of Your Rights as a Tenant

Please work with us when you need commercial real estate in Ponte Vedra, FL. We make it easier for you to understand commercial real estate leasing.

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What is a Bridge Loan?

Businesspeople discussing a loanA bridge loan is often used as a short-term financing solution to get the borrower from point A to B. In the market of commercial real estate in Ponte Vedra; a bridge loan can help finance the purchase or renovation of a property until permanent financing is arranged.

These loans are different from traditional loans due to their short-term contract and their higher cost. This means they should only be used where sales proceeds or permanent financing are guaranteed in the future. Some examples of when a bridge loan could be applicable include:

  • Residential real estate sales
  • Commercial real estate sales
  • Larger business orders

The Pros and Cons of a Bridge Loan

Bridge loans allow a buyer access to a deal they may not have been financially able to support at that time. It also allows the buyer to close the sale much quicker than usual. There is also no pre-payment penalty, so if they can be paid off early, there will be no consequence and doing so is often viewed as a positive act.

These loans are incredibly expensive and are a great risk for buyers with no clear plan on permanent payment. If you need assistance determining if a bridge loan is right for your needs, contact our real estate attorneys at Baron Bartlett, P.A. today.

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What is a Commercial Lease?

If you have ever rented an apartment, you are probably familiar with the standard lease process for residential units, but what about commercial leases? If you are interested in leasing a commercial building for your company, there are many different nuances in these types of contracts.

A commercial lease legally binds a landlord and business tenant. A commercial lease should include the following:

  • The names of the parties that are signing
  • A legal description of the property
  • The property type
  • The square footage of the rented area
  • The terms of the tenancy
  • Tenant renewal options
  • The base rent and how often it is paid
  • The security deposit, collection date, and amount
  • Activities that can and cannot occur on the premises
  • Conditions of who makes any improvements
  • The fixtures included in the lease

When you need assistance with your commercial real estate in Ponte Vedra, look to the experts at Baron Bartlett, P.A. We will help you with all of your commercial real estate needs so you can ensure you are making the best decision for your business’s future. Reach out to us today at (904) 285-9993 to schedule a consultation with one of our highly experienced lawyers. You can also send us an email through our contact page.