Your company is evaluating a commercial office building for a new acquisition.

Current tenants' leases (Option C) are the most critical documents to review during commercial real estate acquisition.

Why Option C is Correct?

Leases outline revenue streams, obligations, and tenant responsibilities, which directly impact the financial viability of the acquisition.

They indicate lease expiration dates, renewal options, and potential vacancy risks.

IFMA’s Real Estate & Property Management Core Competency highlights the importance of lease agreements in evaluating property investments.

Why Other Options Are Incorrect?

Option A (As-built drawings): Important for understanding building layout, but leases are more critical for financial analysis.

Option B (Local building codes): Compliance is important, but lease terms affect revenue and investment decisions more directly.