Commercial real estate, also called commercial property, investment property, or income property, is property that is used exclusively for business-related purposes. Commercial real estate generates a profit, either from capital gains of the business, or from rental income of tenants using the building. If you rent a home, apartment, or office space, you are living or working on commercial real estate.
Commercial properties are leased to tenants to conduct income-generating activities. This differs greatly from residential real estate, which do not have income-generating activities attached to the property.
Because of the very unique components of and laws surrounding commercial real estate, a specific type of lawyer is required when handling any kind of transactions regarding these properties. That’s where a commercial real estate lawyer comes into play.
There are very specific legalities concerning commercial real estate. If you’ve only ever handled residential real estate affairs, you may not be aware of the different laws and processes of commercial properties. A commercial real estate lawyer can help you navigate the complex world of commercial real estate. Watch this video to get an idea of what specifically these lawyers do and how you may benefit from their services.