DO I NEED TO ALSO HIRE AN ATTORNEY?
Absolutely. Lease and purchase contracts are legally binding documents. You receive the benefit of occupying and / or owning the space or building, and with that benefit, comes obligations of what you have to do to maintain that occupancy or ownership.
When looking for an attorney, your commercial real estate agent should be able to give you the names of several attorneys that you can interview, to determine who can offer you the best combination of value, protection, price, etc.
In a commercial real estate transaction, it is imperative that your attorney specializes in commercial real estate, contract and business law. Just like you don’t want a dentist performing orthopedic surgery, you don’t want an attorney who generalizes or focuses outside of real estate, trying to be a real estate attorney. In that case the results are typically unwanted exposure or an attorney that will frustrate the owner or seller by asking for things that are unreasonable. Additionally, it will typically cost you a significant amount more than it would have if you worked with an attorney who understood real estate law and was much more efficient in their review.