The importance of representation in shopping mall acquisition

The acquisition of any large commercial property involving multiple players is a highly detailed, complex matter. It is in the best interests of all parties for such a deal to be both guided, and negotiated, by a skilled commercial real estate attorney. Often, in the case of shopping mall acquisitions, purchase amounts can reach multi-millions, if not billions, of dollars. We don't know about you, but if we are spending that kind of money, we want the eyes and knowledge of every expert we know reviewing the documents.

Since the e-commerce revolution has taken hold, brick and mortar stores are closing at an alarming rate. Multiple retail giants have made the decision to close-up shop and enter bankruptcy proceedings. As such, the acquisition of any brick and mortar complex holding multiple retailers needs to be a very strategic and well thought out purchase in order to survive. This is where the expertise of a great commercial real estate attorney comes in.

An attorney can and should be a part of your acquisition team from start to finish for several reasons. One, he can make sure that no stone is left unturned within a purchase contract. It is of utmost importance to make sure all potential loopholes are handled, and all available protections are in place for a purchase of this size. Two, he can work with you to perform market research and create a viable, sustainable plan for a property prior to purchase. This can include ordering current financial reports as well as traffic studies.

Having the right team to accomplish a large commercial real estate acquisition is crucial to its survival going forward. Knowledge in both the real estate and legal fields bring a lot to the table in terms of negotiation skills and buyer protection. Further, an attorney can make sure there are future protections in place should a property not flourish as planned.

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