Renting space in a building due for demolition.

Discussion in 'Real Estate General Discussions' started by nopacnone, Jul 13, 2018.

  1. nopacnone

    nopacnone New Member

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    I'm looking at renting an office space in a particular historic building downtown where a big developer has already proposed to build a large condo building. They say demolition could start within a year or two from now. I know that residential tenants get guaranteed relocation and assistance, but I'm curious if there are any guarantees made for commercial tenants, given that there are a lot of businesses in the building.
    Thanks in advance for your help guys!
     
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  2. DSC

    DSC Senior Member

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    I would be amazed if any owner would sign a lease for a building they plan to demolish without adding a clause that there would be no possibility of a lease extension and certainly that there would be no compensation paid if a lease was not renewed etc etc.
     
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