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Renting space in a building due for demolition.

nopacnone

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#1
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!
 

DSC

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#2
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!
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.