Hiring Commercial Broker and Lawyer in the same city?
Years ago, my parents did a 1031 exchange and purchased a good retail location, but the lease is coming to an end and our tenant is leaving. I don't live in the same state as the property, so I'd like to hire a commercial real estate attorney and a commercial agent to help me either find a new tenant or sell the property.
Certainly, I need to engage a commercial broker who knows the area and the market well, but should I engage a lawyer in the same area?
I'm sure there are benefits to having a commercial real estate lawyer who is also local and knows the area, but the city is small and I'm concerned that the broker and the lawyer will probably know one another and be more interested in maintaining a good relationship with each other than protecting my interests.
Can anyone comment or offer and advice on this concern?
And can anyone tell me what a commercial attorney might charge to assist in such a transaction?
Many thanks