commercial lease question

Short answer is that it depends on how your executed the lease.  If you and your partner were part of a corporate entity or limited entity and signed the lease in that capacity, then you should be able to protect your personal assets.  However, even if you are an entity, the lease could have you personally guaranteeing the lease; in which case, yes, your personal assets could be vulnerable in the case of a judgment.  I would advise making an appointment with an attorney to discuss the lease and your asset protection plan before making any decisions on the default.  However, if you have already defaulted, I would advise sitting down with an attorney to check the lease, and, if you are vulnerable, see what options you may have available.