Quote:
Originally Posted by eschaton
I can understand all of that. But I still can never quite understand how it's preferable to leave a retail space entirely vacant for 2-10 years over rent it out to someone on a shorter-term basis who might give you say 75% of the rent you're looking for.
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From what I understand, usually most retail tenants are not willing to do something like sign a month-to-month lease, or anything else that could be cancelled on short notice. So in order to hold out for a long-term lease on suitable financial terms, the property owner usually has to leave the space vacant while they look.
Of course they might not be intending to leave it vacant for like 10 years, and if they knew in advance that would happen they might have been willing to do something different. I think that usually happens more just because they keep hoping for a suitable long-term tenant, and it keeps not working out, and eventually you look back and see it has been a long time, but that doesn't really change the logic . . . .
Sort of like how my brother and sister both ended up unmarried.