Purchase Option Question Commercial Real Estate

[Adam S.]

Hello, I am the owner of a commercial property in Connecticut. The tenant has a purchase option and right of first refusal as part of the lease. He refused to buy the property 9 month ago but is eager to do so now.

I spoke to a couple of commercial real estate broker firms to prepare for the sale. Based on a review of the lease agreement, they advised me that the Purchase Option is one-sided because there was nothing paid to get the purchase option which ties up my property (4 years), especially since there is also no obligation on the tenant's part to buy the property. According to the brokers, my only obligation is offering the right of first refusal. I reviewed some opinions from attorneys online about this and it makes sense.

I want to learn more before I seek out legal advice.

Question: Is this purchase option, with no specific consideration (i.e. no fee paid) attached, and which does not obligate the tenant to buy, yet limits my ability to sell the property for 4 years, valid and enforceable?

Thank you.