The owner of a building, known as the Riverwalk Center, recently sold the massive complex in a multi-million dollar deal. With any such commercial property transaction in Florida or elsewhere, it is only natural for all involved parties to want to ensure their interests are fully represented and protected before the closing documents are signed. While a real estate broker can offer guidance throughout a transaction, a real estate attorney will be able to carefully review all contracts in order to make sure everything is above board.
The Riverwalk Center is a large office complex located at the Jupiter Yatch Club, which can be found a few hours south of the Orlando area. The building was sold by Riverwalk Owner, LLC., to American BH Investments. The final cost was reportedly $11.8 million for the 35,000-square-foot space.
Commercial property, such as this, can be a great investment. With increases in property value and potential tenant contracts, the return on investment can be well-worth the purchase price. However, as was likely done in this transaction, the buyer will want to review any current contracts with tenants and ensure the building is fit for occupancy — among various other concerns — in order to make sure the property meets his or her needs and investment goals.
A Florida real estate attorney with experience in commercial property matters can help address any and all concerns a buyer may have before making such a substantial purchase. Failing to seek legal representation can result in contracts that do not account for the buyers’ interests. While it is possible to file and successfully litigate legal claims arguing the validity of real estate contracts, having counsel on hand for commercial property purchases from the beginning can help avoid the need to take such legal action.
Source: sun-sentinal.com, “Real Estate Notebook: Construction exec starts own business”, Paul Owers, Aug. 14, 2015