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Originally Posted by someone123
I often wonder how much of the lack of tenants is due to a lack of a local market versus mismanagement (including underinvestment and poorly configured spaces) or other problems. It's strange that even Park Lane doesn't really have an anchor tenant and that the HMV space has been empty for so long.
One thing I've noticed is a huge difference in the level of success of different properties based on the landlords. One good example is Carsand-Mosher on Barrington, which was renovated and occupied by a nice mix of new tenants relatively quickly. Meanwhile, there are a couple of small buildings along Spring Garden Road that languish despite very high rents nearby. My guess is that there are just good and bad landlords, and that the bad ones don't invest in their properties or try to find tenants. This exists even in large, very expensive cities.
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I absolutely think it is bad management.
How is it that you have a bunch of top name brand retailers out in the middle of nowhere in Dartmouth Commons, but you can't get a single one to move in down on Spring Garden, the busiest street east of Montreal?
I think whoever owns that building is an absentee landlord and has no connections and no clue how to bring in proper tenants.
Another problem: the landlords on SGR were all starstruck by the $$$$ Starbucks paid for that corner. Now they're all sitting around waiting for a Starbucks, but it's not going to happen. You have to do things to attract top end tenants. Sometimes that means making a bit of a deal. Instead, we have another empty storefront on Spring Garden Road, which is simply preposterous.
If not some clothing retail, I'd love to see a Chapters at the HMV. Or maybe a downtown Apple store (though I think both could fit better on Barrington).