Success Story - $3.5 Million Purchase of Shopping Center Outlot Property

Background: 

Lavelle Law represented a company in its $3.5 Million acquisition of the outlot building it was leasing for its expanding business.

Challenges:

The purchase was complicated by buyer requiring two loans to fund the purchase, the numerous covenants, conditions and restrictions and redevelopment agreements affecting the parcel, and the handling of property taxes at closing on the newly subdivided land.

Result:

The purchase was successfully completed despite the hurdles. It required extensive negotiations with a large national seller, detailed review of numerous title exception documents, and the coordination of closing two loans for funding the purchase.