There are many types of transactions businesses engage in, including real estate transactions. One type of real estate transaction businesses sometimes engage in is leasing commercial property. The are many reasons a business may lease a property, such as a desire to expand, a desire to move its business operations to a new location, a desire to enter into a new geographic market, etc.
Recently, the Houston Business Journal reported on a commercial lease agreement that was reached in Houston. The matter involves an energy services company.
Under the agreement, the energy services company has agreed to lease some office space in a new commercial development in west Houston. Reportedly, the company will lease 106,801 square feet of space in the development.
The commercial development is still under construction. Reportedly, the core and shell of the development are targeted to be completed in June.
It has been reported that the energy services company plans to move into the space it has leased in July. The Houston Business Journal article which reported this story did not contain specific details on the length of the lease, other than saying that it is a long-term lease.
As this matter illustrates, businesses sometimes enter into commercial lease agreements. Many important issues can arise in connection to commercial leases. Such issues can be complicated in nature and how such issues are ultimately resolved can be very impactful. Thus, if a business is considering entering into a lease agreement, it may wish to consider seeking advice from an experienced business law attorney.
Source: The Houston Business Journal, "Cameron signs lease in new west Houston development," Shaina Zucker, Feb. 19, 2013