Quote:
Originally Posted by Northparkwizard
This is one of the dumbest arguments ever. Storefronts aren't shuttered because the market can't bear it, the shoe is on the other foot. This type of dumb-think is why we're in this.
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Hold your horses there, Jethro. I never said I support high rents driving local businesses to close, or empty storefronts lining streets. I'm just stating the reality that in SD, today, a commercial property owner raise rents to whatever they damn well please (absent a lease agreement, of course). As it is in the rest of the USA.
I should note that SD has a relatively lower amount of speculation in the commercial property sector, and thus a fairly low commercial vacancy rate compared to many other metros. Even if you plan to sell, having tenants ready to go is generally an asset to the sale price. This is in contrast to markets like NYC and SF where having vacancy is prized because then you're set for that "next big thing" to come along, even if that means holding the space empty for years.