Ah, the joys of running a business: marketing plans, inventory juggling, customer service… and surprise real estate plot twists! One day, you’re happily brewing lattes, grooming dogs, or selling artisanal vegan candles, and the next — BAM! You get a friendly-ish letter or phone call that says, “Dear Tenant, just a little FYI: the building you’re in has been sold. Have a nice day!”
Cue the dramatic sitcom record scratch. Let’s unpack what just happened — and more importantly, what you can do next without panic-googling “how to run my business from my garage.”
Step 1: Breathe. Seriously, Breathe.
First, don’t hyperventilate into your breakroom plant. The sale of the building doesn’t automatically mean you’re getting kicked to the curb with your office chair and potted fern. Commercial leases often run with the land, which means the new owner is now your new landlord — congratulations, you’ve just inherited a surprise relationship! It’s like Tinder, except no one asked for it and there’s probably more paperwork.
Step 2: Dust Off That Lease Agreement
Remember that lease you signed three years ago with a hopeful smile and a pen you borrowed from your accountant? Time to re-read it like it’s the final season of a mystery show.
Look for:
- Assignment clauses – These determine if the lease is transferable.
- Termination rights – Does the new owner have a right to end the lease early under certain conditions?
- Right of first refusal or purchase – Did your lease include a clause that gave you the first chance to buy the space? If so, someone might’ve forgotten to check that box…
Now, don’t be shy — if you’re not sure what you’re looking at, talk to a lawyer. Not the guy who helped you with that parking ticket in ’09. A real estate lawyer. One with glasses and a mild coffee addiction.
Step 3: Say Hello to Your New Landlord
Once you’ve confirmed your lease is intact (or at least mostly intact), it’s time to meet the new boss. Schedule a chat. Bring cookies. Or maybe just a copy of your lease and your best “I’m a responsible adult” face.
Ask questions like:
- “What are your plans for the building?”
- “Are you planning renovations that involve loud jackhammers and/or moving my front door?”
- “Are you increasing rent faster than my blood pressure?”
Remember, this is your chance to build a new relationship. Or at least figure out if you need to start panic-scouting Craigslist for commercial space that doesn’t look haunted.
Step 4: Watch for Subtle (and Not-So-Subtle) Changes
A new building owner might mean:
- New management company
- Different rent payment portal (yay… another password to forget)
- Upgrades (hello, functioning HVAC!)
- “Upgrades” (oh no, modern industrial open ceilings that make your accounting office echo like a canyon)
Stay informed. Ask for updates. Don’t assume that just because no one’s said anything, nothing is happening. Sometimes, real estate changes move quietly — like cats… or IRS audits.
Step 5: Plan for the Unexpected (Because, Surprise!)
Here’s the hard truth: even if your lease is solid and the new landlord seems friendly, the long-term future might be different. They may want to redevelop, repurpose, or rezone. If your lease is up in a year, you should probably start planning now — because commercial leases are like dating in your 30s: the good ones go fast, and the mediocre ones still want a security deposit.
Consider:
- Renegotiating early – If you like the space, lock it down.
- Scouting new locations – Just in case.
- Talking to your team – So they’re not shocked when you say “we’re moving” mid-latte.
Step 6: Laugh, Because What Else Can You Do?
Honestly, the whole thing is a little absurd. You leased a space to sell tacos, and now you’re dealing with building deeds and legal clauses. Welcome to entrepreneurship!
So yes, make smart choices. Talk to professionals. Protect your interests. But also? Laugh about it.
Tell your customers: “Guess what? We’re under new landlordship.” Post memes in the breakroom: “When you signed a lease, not an adventure film.” Start calling the office printer “The Legal Department.” You know, healthy coping.
Bonus Tip: Channel Your Inner Real Estate Warrior
This could also be an opportunity. A new landlord might mean better maintenance, building improvements, or even a chance to expand. Or maybe it’s a cosmic nudge to find a space with better foot traffic, a less scary bathroom, and an actual parking lot.
The point is — it’s not necessarily bad news. It’s just news. Handle it with a calm head, a solid plan, and maybe a celebratory donut.
Because if there’s one thing every business owner knows — it’s how to pivot, adapt, and keep going even when the walls (literally) change around them.
In Conclusion:
Yes, your building got sold. But no, it’s not the end of the world. It’s just the next chapter in the wild novel that is running your own business. Be informed. Be proactive. Be mildly sarcastic if it helps. You’ve got this.
And if not — well, there’s always the garage. Don’t wait, give Johnston Commercial Real Estate Inc a call to help you find a great new space!
