Moving into a new space isn't always easy. Just as Orlando's Mad Cow Theatre.
The arts group recently purchased some new commercial real estate and was excited about moving into its more spacious, more suitable environs. But hold-ups, financing issues and local regulatory concerns meant the group could not make its move in January as originally planned. The theatre plans to finally move in next week.
Orlando cultural leaders have expressed a desire to develop an arts district of the city, but it has proved more difficult than anticipated. Theaters, for example, are not easy to build because they require special building considerations like soundproof materials and windowless exteriors for lighting concerns. Also, arts groups often rely on volunteers for in-kind services and donations, so fundraising can proceed at a snail's pace.
Some real estate-related issues are not unique to arts groups, however. Negotiating leases or purchase agreements, for example, is always a delicate affair that has to be treated with care, lest a disadvantageous agreement is the result. It also pays to investigate a potential site thoroughly before signing anything so you can be certain there aren't back taxes, environmental concerns or contrary claims to the parcel.
If you're interested in acquiring or leasing commercial real estate, working with an attorney who practices real estate law may not be a bad idea. Having someone who is familiar with the laws that govern real estate and someone who has experience with leases and purchase agreements can be very helpful, and many people find it very worthwhile to have a knowledgeable advocate on their side.
Source: The Orlando Sentinel, "Arts groups across Orlando look toward construction finish line," Matthew J. Palm, Sept. 25, 2012
No Comments
Leave a comment