You are looking to invest in occupied walls, you tell yourself that you have found the right deal and you do not understand why the tenant did not exercise his right of first refusal (only in the case of a separate lot).
The tenant or lessee operates a business, the walls are only a tool for him.
His priority is to invest in his business, which generally gives him a higher return than real estate, he improves the value of his business.
The tenant also seeks to remain flexible and may need to move to expand or have more recent premises, so it is not intended to wear its walls.
However, you should still be vigilant about the financial health of your tenant, if he does not buy his walls occupied by his operation this may be a sign of a lack of means.