Quote:
Originally Posted by Obadno
Im surprised the retail at Hilton Garden has had a tough time. Its a very popular area now.
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I'm convinced that large REIT's are detrimental to the overall cityscape. For example, if the Hilton Garden Inn were responsible for leasing the space, they would be compelled to find tenants (better for the hotel guests, better for the community, better on all fronts). Instead, the leasing is outsourced to firms with large portfolios. HGI's storefronts are miniscule items on a massive ledger and lack any physical nature. IMO Phoenix should force local management of these storefronts or we will always see years of vacant commercial space - like this example.
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