Commercial Real Estate Lawyers in Southern New Jersey
Commercial Real Estate Transaction Guidance by Real Estate Lawyers in Brick, Beach Haven, Mantoloking, Brielle, and Towns in Southern New Jersey
Anyone concerned with or involved in buying, selling, leasing, or managing commercial properties in New Jersey should attain and value a solid understanding of the state’s commercial real estate laws. If this article has found you, you may be a property owner, investor, business owner, real estate agent, established or up-and-coming NJ entrepreneur, or otherwise engaged in transactions or dealings related to commercial real estate in New Jersey. Regardless of your niche or commercial real estate connection, pursuing knowledge in this domain will be an ongoing endeavor as part of becoming a professional in the field.
Fortunately, this text aims to serve as a resource, one you can revisit whenever needed, providing you with a comprehensive overview of the subject, including descriptions of key terms and concepts, an outline of areas and projects influenced by the associated commercial property laws, a walk-through on how transactions in this domain transpire, as well as examples of situations that may arise calling for legal counsel. If you are in need of assistance with a commercial real estate sale or purchase in Bradley Beach, Ocean Grove, Long Branch, Red Bank, Wildwood, Asbury Park, Toms River, Lakewood, Manchester, and throughout the New Jersey Shore, contact our commercial real estate lawyers at (732) 812-3102 for a free consultation.
Importance of Legal Understanding in Commercial Real Estate in NJ
Investors and business owners who are successful in commercial real estate recognize the importance of acquiring a strong understanding of relevant property laws, zoning regulations, and environmental restrictions, as well as other business considerations like valuation, rental prospects, re-saleability, and the distinction between commercial and residential New Jersey real estate law must be made. As with many areas of the law, the importance of understanding New Jersey commercial property law is best illustrated by the legal nightmares that can arise when one does not conduct due diligence on a prospective property and later unearths a mine of regulatory blockades and liabilities.
Commercial real estate investors must be very clear about whether their future plans for a particular property are legally viable. Take, for example, a commercial property located within New Jersey wetlands. A novice investor or developer that enters into a real estate contract to purchase a property with the plan of developing it must be certain that their development plans will not be impeded by environmental restrictions or else the project and, therefore, the transaction may not be economically feasible.
Distinguishing Between Commercial Real Estate Law and Residential Property Regulations
In New Jersey, commercial real estate law covers various property projects, including building and managing apartment complexes, developing shopping centers, constructing office buildings, and more. Any real estate venture focused on business or commercial use falls under commercial real estate law. In all real estate transactions, one of the most important questions to ask is: “Am I making a good investment?” With residential properties, other priorities often play a role, such as school districts, ambiance, the style and feel of the home, and how much space is needed to accommodate a family. Conversely, commercial real estate transactions come with an entirely unique set of factors for consideration.
Commercial real estate ultimately revolves around business and commerce, so the purpose of the property is critical and ranges from retail to industrial use facilities. Perhaps you’re purchasing an office. In that case, you may be making the decision with multiple stakeholders, such as an investor, a business partner, or a board of directors. The negotiations in commercial property deals undoubtedly rival the complexity of the laws, elements, considerations, and other important nuances of this unique realm of law. So, whether a business owner, a retail outlet, an industrial manufacturer, a condominium investor, or another role applies to your situation, having a knowledgeable commercial real estate lawyer is a must.
Key Factors to Consider in a Wise Commercial Investment
A multitude of factors are relevant in determining whether a particular commercial real estate investment is wise. After an assessment of whether the property will suit the functional purpose of a project or investment, a buyer must then determine if the zoning regulations governing the property permit the intended use or development of the property. Even if a commercial building already exists on the property in question, prospective buyers should not find false security in an existing building if they intend to use the property for a different type of business. Even within the same industry, small nuances must be given careful attention, as they could render the transaction economically infeasible or just simply a poor investment. For example, if a business is considering buying a commercial property that contains a coffee shop and turning it into an Irish pub, they must confirm that they will be able to obtain a liquor license for the new establishment, or the investment may not be viable.
Identifying any relevant environmental restrictions is another important step. New Jersey has extensive restrictions on the building or development of certain protected areas like coastal zones and freshwater wetlands. These concerns are also present in residential real estate transactions, but commercial investors and developers generally must consider a wider scope of implications and how these restrictions may impact their business plans.
Contact Bronzino Law Firm for Help with the Purchase or Sale of Your Commercial Property in South NJ
Whether it’s your first commercial deal or your tenth, wise investors and developers understand the value of expert legal counsel in their commercial real estate transactions. A commercial real estate attorney at Bronzino Law Firm, LLC will help to ensure that you conduct thorough due diligence, consider zoning regulations, environmental concerns, and restrictions, and negotiate your deal from a place of knowledge and confidence.
Consult with an experienced New Jersey commercial real estate lawyer serving clients in Belmar, Point Pleasant, Margate, Seaside Heights, Manasquan, Monmouth Beach, and elsewhere in the Monmouth County and Ocean County area and bring onboard an invaluable partner. Call (732) 812-3102 or contact us online today to request a no-cost consultation.