I presently lease a commercial property. My landlord and myself signed the new (renewed from old term) lease less than a year ago for a five year term, with an option for myself, the tenant, to sign for an additional five years at any time prior to 90 days before the present term ends. Well, now my landlord tells me today that she is selling the building and the land, but she will give me the first option to purchase this. I am not in any position to make this purchase though. Our present lease states nothing about early termination from either party.

My question is, can she legally sell the building and just put my business out on the street, or is she legally obligated to keep the building until the term of this lease expires.

You should have tenants rights, meaningn the new owner buys subject to the lease and its existing terms. If you have concerns and it sounds like you should, consult an attorney, but you have been offered the option to buy the place, so maybe you should try to if you are worried a future landlord will not abide by the lease.