Many people decide to own commercial property to house their own business. Others decide to purchase commercial real estate in an investment capacity. The type of commercial real estate that’s right for you will depend on your specific needs and interests. At Verhaeghe Law, our Edmonton commercial real estate lawyers have decades of experience assisting clients with any and all of their commercial real estate transactions.
Our team can ensure that you consider all relevant factors before investing your time and money into a venture. Whether you are looking to lease, purchase, or invest in commercial real estate, we’re here to help. Contact us today online or by phone at (587) 410-2500 to learn more about your legal options.
Types of Commercial Real Estate Transactions in Edmonton
In Edmonton, commercial real estate can include:
- Office space
- Retail space
- Industrial, manufacturing, or warehouse space
- Institutional space
- Multi-family housing with at least five units
- And more
Our Edmonton commercial real estate lawyers offer comprehensive legal services for the purchase, sale, and lease of all types of commercial properties. We serve the needs of purchasers, sellers, landlords, and tenants, ensuring that their interests are protected throughout every step of the process.
Our goal is to streamline your transaction to help prevent risks and disputes. In cases where disputes may be unavoidable, we can provide full-service commercial real estate litigation to help resolve your matter.
How Can Our Commercial Real Estate Lawyers in Edmonton Help With Your Transaction?
For clients involved in the purchase or sale of commercial property, our team at Verhaeghe Law offers the following services:
- Negotiation and Execution of Contracts: We help clients understand their rights and obligations under contracts, negotiate fair terms, and make sure all agreements are legally sound.
- Due Diligence: Our lawyers will thoroughly investigate the property you’re interested in to identify potential legal or financial issues. These might include environmental concerns, title issues, zoning restrictions, and more.
- Facilitation of Financing: We can assist in helping you secure financing for your transaction. We do so by reviewing loan agreements, helping structure your deal, and ensuring you meet all necessary financing conditions.
- Completion of the Sale: Our Edmonton commercial real estate lawyers will oversee your closing process from start to finish. We do this to help ensure that all legal requirements are satisfied, the title is properly transferred, and your transaction is completed without complications.
- Tax Advice: We advise on potential tax consequences of your transaction, including GST and capital gains. We can also discuss appropriate tax planning strategies
For our commercial landlord and tenant clients, we offer support with:
- Negotiation and Execution of Commercial Leases: We can draft, review, and negotiate lease agreements to make sure they protect our client’s interests, whether they are landlords or tenants.
- Termination of Leases: We can help end lease agreements, overseeing compliance with any legal obligations. We can also advise on potential remedies if breaches of the lease have occurred.
- Remedies for Lease Disputes: When disputes arise, we advise our clients on their legal options and represent them when they decide to pursue remedies. These might include rent recovery, eviction, or compensation for breaches of contract.
Important Considerations in Commercial Real Estate Transactions
Commercial real estate transactions often have extra dimensions when compared to residential real estate transactions. Zoning restrictions and by-laws often affect which businesses can operate in specific locations. These factors can complicate otherwise straightforward negotiations. You should always make sure that you can use the space as you intend before you commit to purchasing or leasing a property.
Tax considerations can also play an important role in determining whether you lease or purchase a commercial property. If you do decide to purchase, you will also need to consider what entity will own the property. Do you want to own the property personally? If your business is run through a corporation, the corporation can be named as the registered owner of the property. Although answering these questions alone can be daunting, an experienced commercial real estate lawyer can guide you through the process and advise you on the best actions to take.
Contact Our Team at Verhaeghe Law For a Consultation
Our Edmonton commercial real estate lawyers will ensure that you have considered all important factors before proceeding with your transaction. As a result, we can streamline the process and help you navigate your real estate matter as smoothly as possible. Consulting with a professional before you take any final steps can save you time, money, and stress.
If you’re looking for real estate law services in Edmonton, speak to our commercial real estate lawyers today. You can contact us online or at our Edmonton office at (587) 410-2500.Â