I have spent much of my career as a buyer representative purchasing commercial properties (often occupied) for alternate uses by the new buyer. The first step is to gather as much information as possible. Who is the owner? Who is the tenant? How long has the tenant been there and how long including lease extension options, can they stay? Is the tenant successful? Are they delinquent on rent or otherwise in default? Could the tenant be interested in relocating or vacating -- even if monetary incentives are required? If you are planning to rent from the existing owner, will they be more interested in you and your deal than the current one in place? As you can see, it's never a simple process but with diligence and determination as well as patience and resources, it can be accomplished.
Jun 28, 2009