Office Property: The landlord plans on selling the building, do tenants have to move out?
Trying to help someone that asked me the following: 

If a landlord were to sell an office building currently occupied by a tenant(with time left on lease, lets say 1 year). Does the tenant need to move out? 

Are tenant protections the same as they are in some cities for residential tenants? 

The lease terms are as follow:

 *In the event of any sale or other transfer of the Premises, Landlord shall be entirely freed and relieved of all agreements and obligations of Landlord hereunder arising after such transfer and obligations arising prior to the date of such transfer only to the extent that the transferee assumes in writing such obligations, and any remaining liability of Landlord with respect to this Lease shall be limited to the dollar amount specified in this Section and Tenant shall not be entitled to any judgment in excess of such amount.* 

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Let's assume the new owner wants to occupy the building, what are the tenant rights in this case assuming there are 2-3 tenants occupying the building?

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Thank you!
[{"id": "hluhpv1", "text": "Usually the new landlord keeps the tenants. If not, your lease will be bought out. You will hear from the new owners very soon.", "replies": [{"id": "hlukpnn", "text": "Thank you for your input.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hluiwar", "text": "Normally the tenant's lease is still in effect. \n\nThe tenant will be asked to sign an acknowledgement of the new owner, and a statement that there are no discounts or other unfulfilled obligations still owed to him by the previous owner.  \n\nIn SOME places, a tenant has a right to invalidate the remaining term of the lease, based upon a change of ownership or bankruptcy of the previous owner.  But in answer to your question,  the new owner does not have the right to invalidate the remaining terms of the lease.", "replies": [{"id": "hlukqag", "text": "Understood, Thank you for your input.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hlv20tk", "text": "The clause you included has nothing to do with new owner breaking your lease. Unless there is specific language in the lease giving either you or the landlord the right to cancel the lease in the event of transfer of ownership, the lease will remain in effect. They will probably request you sign an Estoppel Certificate at some point which is basically an acknowledgment of the lease you signed. Lenders typically require them and it\u2019s not a big deal. The only way the landlord can get you out is if you violate the lease or if they offer you a buyout in my opinion. Not legal advice.", "replies": [{"id": "hlw1nyy", "text": "This is the best response. The language you shared just frees the seller from obligations once they sell. The lease obligations will transfer to the new LL in a standard lease scenario. As part of their due diligence they\u2019ll typically preform a tenant interview in which both parties can discuss their plans. They\u2019ll almost certainly request estoppels, as described above. As mentioned elsewhere I would be more concerned with the term remaining on the lease \u2014 given the marginal length of the remaining lease term, the buyer is likely looking to value add. Either their lease is below market or the buyer intends to improve the space (or both) and they intend to receive a higher rent on the space. Or, since you said they are the only tenant, it could also be an owner-user. Edit: as said elsewhere for office space there are not tenant protection like residential, the lease contract is the guide. Come the end of the term it is very likely the new owner is going to raise the rent or occupy the space \u2014 your friend should begin speaking with them now and also seeking new space.", "replies": [{"id": "hlw9j45", "text": "\u261d\ufe0f", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hlv6ng1", "text": "Depends on the lease and any renewal rights. Can get more complicated but those are the starting points. Have worked both tenant and landlord repositioning deals if you want to chat directly.", "replies": [], "depth": 1}, {"id": "hlvitmw", "text": "Lease obligations (both ways, including renewal/termination options) transfer with a sale.  That said with a year left on the lease the tenant does not have a lot of leverage and should 1) talk to new ownership about their intentions.  If it is an investment play for the new ownership, Tenant should consider asking for am early renewal/extension with some tenant improvements, should that make business sense.  2) If new ownership isn't responsive, and/or you feel an owner/user situation is in play, Tenant should begin exploring new options immediately.", "replies": [], "depth": 1}, {"id": "hlvpkfn", "text": "Tenant protections are largely non-existent in commercial compared to residential. Lease terms govern. I\u2019ve certainly seen leases that say upon sale, the lease could end within a sorter window (say 90 days) but usually a buyer wants to keep tenants. I\u2019d scrutinize the lease pretty hard if they\u2019re paying a good discount to market though.", "replies": [], "depth": 1}, {"id": "hlvrkuj", "text": "Google the term SNDA. Get one of those.", "replies": [], "depth": 1}]