Quote:
Originally Posted by paul78701
From what I understand as a laymen, real estate tax laws don't really encourage building owners to fill their retail spots. Somehow, leasing out those spots often isn't much better economically than just taking whatever tax deductions they are allowed. Someone correct me if I'm wrong.
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I've heard the same. In fact, when you're entering Bastrop from Austin, there is a big shopping center on your left that is completely empty. I remember dropping off an Uber passenger from the Airport who lived in the residential community directly behind it. People have tried calling the leasing number that is posted there to see if they can open up a Starbucks or something and everytime they call, there is either no answer, or they claim to have no space for rent.
Fun fact. It's also the spot where that Austin cop, VonTrey Clark, killed his pregnant girlfriend right behind that shopping center. When I dropped off my passenger he showed me exactly the spot where it happened.
https://cbsaustin.com/news/local/former-...ds-guilty-to-pregnant-girlfriends-murder
The passenger told me that they all speculated that it was maybe a money laundering spot but that doesn't make all that much sense.
My friend from San Francisco was the one that mentioned that lots of places do in fact leave them empty because tax breaks become much better than leasing them out. So that makes sense.