As the economy gradually recovers, it's always interesting to learn about Florida's new wave of development. In recent news, a veterinarian that is doing business as Atlantic Veterinary Centers has recently purchased a 5,200-square-foot commercial building at South Nova Road for $515,000. According to the veterinarian, he plans to continue operating the property as a multi-tenant center. At this time, one unit is leased to a hair salon.
The veterinarian is the owner of Atlantic Animal Hospital South, which is also located on South Nova Road in Daytona, Florida. He additionally owns the Atlantic Animal Hospital on Oceanshore Boulevard in Ormond-by-the-Sea, Florida. Commercial real estate agents represented the seller in this transaction.
Real estate transactions require a lot of work. There are so many details involved in the process. The following are some examples of some of the matters that can come up:
- Title research for residential and commercial real properties
- Drafting and review of contracts
- Breach of real estate contract
- Association agreements and enforcement
For this reason, it is really important that businesses work closely with solid legal representation when managing significant real estate transactions.
When it comes to commercial transactions, one must be very careful to ensure that the loan conditions are sufficient. Any real estate transaction can be turned around when things are not performed in accordance with the law. In this particular case, it seems as though the veterinarian has everything aligned. Hopefully, the whole thing will continue to pan out for this development scheme.
Source: The Dayton Beach News-Journal, "Commercial building sold," Bob Koslow, June 15, 2012