It’s no secret that Miami’s — and all of Florida’s, for that matter — real estate market took a huge hit in the recession. But the area is now undergoing a revival of sorts, with prices going back up and investors swooping in to buy the vacant spots left around town.
No place is that more apparent than a couple of blocks west of Lummus Park — otherwise known as South Beach — on Lincoln Road While it’s long been a gathering place for shopping and dining, the area is hotter than ever. New stores are moving in and many major retailers are setting up shop.
So, with all of these new tenants and landlords comes the potential for major commercial lease disputes. When a new tenant moves into a property or a new owner purchases it, there are a host of contracts and agreements that must be signed and abided by over the length of the deal. Usually, attorneys from both sides are brought in to make sure the terms of the contract are fair and agreeable. If not, a negotiation takes place and a compromise is reached.
Putting your business in a high-traffic area like Lincoln Road can be a real boon for your company, but getting into prime real estate can be a challenge. Whether you run a small business, a huge corporation or a small nonprofit, having an attorney on your side can make the difference between a storefront stuck in no man’s land or in the center of everything. An attorney also knows the ropes and has an extensive knowledge of regulations and procedures involved in leasing or buying real estate. Drawing on that knowledge can increase the chances that your business will be successful.
Source: miamiherald.com, “A new era for the evolving Lincoln Road,” Ina Paiva Cordle, June 15, 2014