But if your business occupies real estate, whether owned by a related entity or leased from a third party – there’s another big question: what happens to the building? The answer depends largely on whether your company owns the property through a related entity or simply leases space from an unrelated landlord. Owned real estateIf your operating business occupies a building owned by you or a related entity, several options emerge:Sell the real estate before the business sale. You can sell the building to a future owner-occupant and arrange to vacate once the company transaction closes. Another option is to establish a lease between the related entity (property owner) and the operating company before selling.