Buying one unit in a stripmall / shopping plaza

[Tom Ac]

We are currently renting a space in a strip mall and the landlord is willing to sell the unit to us. How does the process work? Do I need to get a commercial real estate agent or do I need an attorney to look over the transaction?   

Very much appreciate any inputs. 

[Evan Polaski]

@Tom Ac, the process is very similar, in many ways, to buying a home.  Or in this case, you are buying a condo.  I would talk with a good real estate attorney.  I don't know you need a commercial broker to help represent you, but also may not hurt.  Just know, typically, in commercial transactions, the seller is not likely to be open to footing the bill for your broker.

Things I would be curious about:
Why is the landlord creating and selling off, effectively, retail condos?  I am not as connected to the retail world as I once was, but this sounds very out of the ordinary.  As such, I would be a little concerned about who will be your buyer if/when you outgrow your space or decide to move locations.

Who is running the owner association?  What happens when the roof starts leaking, the parking lot needs restriped, or the fire system for the center needs a major repair?

What type of deed restrictions are going to be placed on each sale?  I.e. I would assume you have an exclusive use clause for whatever type of business you are, but when the units go to condos with no singular landlord to manage those, what happens when two doors down sells and the buyer is the same use as you?  Alternatively, if you and everyone else has a limited use clause, while that protects you while you are operating your business, it could very well limit your ability to sell you unit.