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Updated over 6 years ago, 08/15/2018

User Stats

4
Posts
3
Votes
Greg Doyle
  • Groton, MA
3
Votes |
4
Posts

Going into business with a Shark

Greg Doyle
  • Groton, MA
Posted

Hey everyone,

I own a small commercial real estate property, and have been approached by a potential tenant who is considered extremely successful. This tenant's team has done billions in sales and acquisitions. They seem very friendly.

The potential lease involves a recreational marijuana dispensary; which is legal in our state and okayed by the bank. The verbal details sound very favorable. Of course, we will be having our local lawyer take a look at the lease.

I'm hesitant mostly due to the overwhelming legal power and experience that this tenant would have compared to our small LLC. In the past we have only dealt with local tenants who would do anything to avoid legal fees, but I have a feeling this company has a full time legal team on it's books.

Obviously I would like to assume everything would go smooth throughout the lease agreement, but I'd like to be prepared for anything.

My main concern would be some type of rider or legalese where the tenant could potentially push my LLC out of ownership. I've never heard of anything like that, but I wouldn't be able to accrue hundreds of thousands of dollars in lawyer fees in fighting anything thrown at me.

Are there any tips the community would suggest I go about, or avoid considering the details above?

Really appreciate all of you!