Latest / Between Two Chairs - Demystifying Commercial Real Estate
Right of First Refusal and Right of First Offer
You will often hear about the right of first refusal. Most tenants, especially those who have spent a lot of money improving a space or been in business for a long time, will want one in their lease. Sounds pretty harmless, right? In this episode with discuss issues with, and alternatives to, a right of first refusal. When you take a listing or write a lease in a commercial condo, read their documents especially Article 8 of their bylaws, which relates to Right of First Refusal.
The skinny
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