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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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Today, I noticed some big banners in the window of the HMV shop, indicating that the space is for lease.
What a joke. Do they seriously think that they're going to find a top shelf tenant by advertising in the shop window? You know, H&M's CEO will be stopping by Pete's for a sandwich, and will notice the signs and be "Holy crap, the HMV space is up for grabs?!
Who owns that building? Is it Crombie Reit? Man, Sobeys should stick to groceries. I hope they sell of all these assets to people who have a bit of energy and vision to manage these spaces better.