Miami Business & Commercial Law Blog

There are many office buildings, shopping centers, hotels, recreation areas and other types of commercial real estate in Florida. The main objective of the owners of these various commercial properties is generally to make money. Owning these types of properties can generate income through the rent of the tenants, but they can also be very good investments for the owners. The hope is that the value of the property will rise over the time they own it, and down the road they can sell it for millions more than they originally paid.

Recently a real estate portfolio consisting of office buildings and a shopping center was sold for $43 million. The spaces in the buildings are currently occupied at the time. Between the office buildings and the shopping center the total sale involves approximately 131,000 square feet of commercial real estate. The sellers were the developers of the properties, which were built in 2006 and 2008. It is unclear how much the developers made off the sale of the properties.

People and businesses in Florida enter into a variety of different contracts each year. The types of contracts depend on the type of business, but every contract involves at least two parties each agreeing to do something or pay for something in exchange for the other party doing something. At the very basic level this is the basis of every contract, but the actions required to actually execute the terms of the contract can be very complicated. They can also take time and circumstances may change after the original contract is signed.

Therefore, contracts can be modified if both parties agree to do so. Many times, any modifications of a contract will be written down and the terms will be clear to both parties. However, contracts can be modified in many other ways besides just in writing.

Florida has some beautiful property along the ocean and many people are willing to pay large amounts of money to live on the beach. Therefore, there are many new condominium developments that are constructed offering oceanside luxury living. However, the developments need to be built first and the construction can take time, which is expected. Many times, these condos are sold before the construction is complete. Buyers will want to know when they will be able to move in, and will sign contracts based on those expectations even if construction is not complete.

Sometimes there are construction delays, and the project takes longer than expected. Some delays are reasonable, but the delays that are currently occurring at a new condo development in Florida are taking too long according to the buyers. Recently one couple filed a lawsuit for breach of contract due to the delays and are seeking their $2.6 million deposit back.

Many people in Florida have good ideas for businesses, but in order to convert those ideas into actual businesses the owners will need money to get them off the ground. This is because businesses oftentimes will need money not only to develop a product, but also to obtain a place where they can have offices, warehouses and other needs for their business. Therefore, these young companies will need to either purchase or lease commercial real estate.

However, many small business owners do not have enough capital to pay for all the upfront costs. So, many companies are funded by venture capital investors. The very basic way that these arrangements operate is that the venture capitalist will invest the money the company needs to get started in exchange for some sort of ownership, usually in the form of stock in the company, or some other return on their investment.