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What is the deal with leases?

A store usually has a lease deal in place. This is usually true, even if the seller owns the building, which is often in a different corporate entity. The lease is a critical component of the store’s value, as it represents the ability to continue operations. It is in the buyer’s best interest to secure the ability to get the lease assigned to them, and also to negotiate an extension. Lenders require a lease which exists for the full duration of a loan’s amortization.