News

4 Legal Tips From the Commercial Real Estate World

By Jeffery Leon

November 21, 2017


JJ Sherman What does a day in the life of a commercial real estate attorney look like? On November 16 J.J. Sherman, founder and principal of the Law Offices of J.J. Sherman, offered insight into the practice during a Small Firm Lunch and Learn session hosted by the D.C. Bar Practice Management Advisory Service.

Sherman’s commercial real estate firm handles buying and selling of commercial properties, lease negotiations, consultation on commercial real estate and corporate law, and financing and joint venture agreements.

Here are four tips for successfully navigating commercial real estate law:

1) “Educate your client about the meaning of ‘as is, where is, with all faults’ in the commercial real estate context, and make sure your client thoroughly inspects the property prior to closing,” says Sherman. It is imperative to ensure that your client knows the contract and the innate details of the property under consideration.

2) Always counsel your clients about the exit strategies of a lease. You never know when a situation might arise that will require an exit.

3) Keep meticulous records! This is especially key to avoid conflicts of interest, and overall a good habit for firms to practice in general.

4) Get involved with the International Council of Shopping Centers (ICSC), which offers opportunities to meet with professionals and lawyers from the real estate world and interact with the people you’ll be working with.

“When I first started my law firm, the D.C. Bar was an incredible resource for law practice management matters, and many years later, I still ask (PMAS assistant director) Dan Mills and (senior staff attorney) Rochelle Washington for advice . . . from time to time. It’s wonderful to have the opportunity to ‘pay it forward’ as a speaker and assist the next crop of lawyers,” Sherman says.

To reach out to Sherman, visit her website.