business lawyers information center

MAIN PAGE  |  BILLABLE PRACTICES  |  TESTIMONIALS  |  PUBLICATIONS  |  SEARCH

CONTACT OUR LAWYERS TODAY

BOSTON 617.938.3928

LOS ANGELES 310.209.8236

TOLL FREE 866.677.NDVR(6387)

EMAIL US NOW

BOSTON, MASSACHUSETTS | LOS ANGELES, CALIFORNIA | GARDEN CITY, NEW YORK*

[click the el icon]

ENDEAVOUR SPACE SHUTTLE

The Endeavour space shuttle orbiter, the fifth and final operational NASA space shuttle, was named through a national contest involving students from elementary and secondary schools across the nation.  Endeavour's first launch was in May of 1992.

COMMERCIAL REAL ESTATE.

ENDEAVORLEGAL attorneys advise clients on a wide range of real estate transactions, including purchases, sales, leasing, land use, secured financing, debt restructuring, investment/ownership structuring and development and construction.

In representing clients in the acquisition and development of real estate, our attorneys provide assistance in:

Documenting and negotiating the terms of purchases, sales and leases;

Negotiating architectural and construction contracts;

Evaluating the constraints of zoning regulations; and

Obtaining local and state permits.

In addition to the legal representation of clients in the acquisition of commercial facilities and investment properties, we regularly advise our clients' principals and employees in regard to the purchase of primary residences.

LEASING COMMERCIAL SPACE?  BUYING COMMERCIAL REAL ESTATE?

CLICK HERE TO CONTACT US

***

NEW BUSINESS CONSIDERATIONS: LEASING VS. PURCHASING AT A GLANCE

The following is a brief overview of certain information regarding the leasing and purchasing of commercial real estate for a business venture.  Please contact us if you need legal advice regarding the lease or purchase of commercial real estate for your business venture.

Leasing.  Leasing the real estate where a business will be located can be an attractive option for a new venture as it is often less expensive in the short term.  It also provides the new business owner with the ability to abandon the property after the lease term if the business is unsuccessful.

Many commercial leases are for terms of five years with tenant options for one or more five year extensions.  If possible, a new business owner should negotiate an “option to purchase” into the lease – or at least a “right of first refusal” on any proposed sale of the property.

One downside to leasing is that the build-out, which is typically funded by the business, becomes the property of the owner of the real estate.  Another downside to leasing is that rent payments generate revenue for the owner of the property and this is money lost to the entrepreneur.  It may be in the best interest of the business to consider purchasing the leased real estate once the business has been profitably operating for a reasonable period of time.

Purchasing.  One advantage to purchasing the real estate where a business will be located is that the business will not be faced with the whims of the landlord such as increased rents in future lease terms, refusal to renew a lease, eviction, taking over the improved property for his own financial gain, and sale of the property to an unfriendly third party.  The entrepreneur also benefits in a thriving real estate market as the growing equity in the real estate increases the overall value of the venture.  Ownership of the real estate and the business should be held by two distinct legal entities so that the investment in the real estate is shielded in the event of a judgment against the business.

Additional ownership benefits include tax deductible interest payments on the mortgage, deductible depreciation of the property, rental income from any portion of the property not used by the business, and the freedom to renovate or improve the property for the financial benefit of the ownership.

LEASING COMMERCIAL SPACE?  BUYING COMMERCIAL REAL ESTATE?

CLICK HERE TO CONTACT US

This Boston Business Lawyers' website

developed by FLIEGAN

CLICK HERE TO RETURN TO THE ENDEAVORLEGAL, ATTORNEYS AT LAW:

GARDEN CITY | LOS ANGELES | BOSTON BUSINESS LAWYER MAIN PAGE

© 2007. ENDEAVORLEGAL, ATTORNEYS AT LAW. ALL RIGHTS RESERVED.  LEGAL DISCLAIMER & TERMS OF SERVICE

*ENDEAVORLEGAL'S PRESENCE IN GARDEN CITY, NY IS COURTESY OF THE LAW OFFICE OF JASON R. CORRADO