Commercial Real Estate

The unique complexities involved in every commercial real estate transaction make experience an essential quality to have in your legal counsel.  Turner Padget has a long-standing history of working in all aspects of commercial real estate, including real estate acquisition and disposition, leasing, land use planning, financing and development.  We represent lenders, developers, equity investors, buyers, sellers, community associations, landlords, and tenants throughout South Carolina and assist them with coordinating their real estate needs in other states.  No matter how unique your transaction may be, our experience enables us to identify potential issues early on so that they can be appropriately managed before they become actual problems.

Experience

  • State counsel for a national real estate development company in the acquisition, development, leasing, and financing of approximately 100 acres along the most concentrated commercial retail shopping area in the Midlands of South Carolina.
  • Lead counsel for the negotiation and acquisition of real estate and easements for the development of a municipal riverfront park.
  • Acquisition, leasing, sale and financing of shopping centers, lifestyle centers, apartment complexes, residential developments, office buildings, medical offices, warehouses, manufacturing facilities, and similar properties.
  • Development and financing for condominium, apartment conversion and planned-unit developments.
  • Representation of a diverse group of large and small property owner associations in all areas of development, from creation of entities to the preparation of declarations of restrictive covenants and governance of the associations.
  • Representation of hotel developers in the development of numerous hotel projects, including the creation of limited partnership private placements and the acquisition and development of all aspects of the project, from financing to land development to franchise negotiations to employment policies and practices.
  • Preparation and negotiation of office, industrial and retail leases for developer/landlord clients with local, regional, and national tenants.
  • Lead counsel for municipalities in real estate development and utility expansion projects.
  • Lead counsel for several financial institutions in the acquisition and site development for branch expansion.
  • Lead counsel in preparation of a wastewater services agreement among two municipalities and a county commission to build a new $70,000,000 regional-based wastewater plant.  The project brought together local government lawyers, transactional and real estate lawyers, rate lawyers and consultants, and engineers and accountants to work with government managers and operational staff to combine a series of piecemeal agreements that evolved over 15 years into one, long-term comprehensive agreement.  The financing is structured through a series of bond transactions, loans, and cash escrow funding.
  • Negotiated the acquisition of approximately 50 percent of the membership interest in a limited liability company which owns, directly and as a member of two related companies, a large, upscale golf course community in a growing suburb of a large metropolitan area, which contains approximately 1,000 acres of undeveloped residential land, 160 acres of commercial property just off an interstate, and approximately 100 lots for sale in existing subdivisions.  As part of the transaction, the firm negotiated the sale of an interest in the property to a third-party and drafted entity governance documents for four new limited liability companies.  The attorneys involved also performed an extensive review of the underlying real estate assets, including an analysis of the existing debt and liabilities.  They restructured an existing loan to the company and continue to work towards a company restructure and consolidation of debt.  The firm will be involved in the development of the undeveloped residential and commercial property going forward.
  • Negotiated the acquisition and redevelopment of an urban property from an auto repair facility into what was initially planned to be a mixed-use, multistory public-private condominium development with street level retail, two floors of public parking and residential condominiums on the top floors.  Over a period of over three years, the firm assisted in completing the due diligence and acquisition, including handling environmental issues, drafting initial condominium and other development documentation, and working through a redevelopment and various rezoning issues as the public participation in the project tended and the project was revised to three freestanding retail buildings.  The firm then negotiated a long-term lease of one of the three retail buildings in the development to a large, national pharmacy tenant, drafted and recorded a declaration of easements, covenants, conditions and restrictions for the development, and handled the initial acquisition financing and the construction financing for the developer.  With construction in process, the firm continues to negotiate leases for the other two retail buildings and a freestanding ATM in the development.