I do believe commercial real estate is dropping just as low as residential. It seems like everything is closing as more and more people lose their jobs. Who knows, he could get that rent reduction since some rent is better than no rent. The way things are sitting empty for months or years the landlord would be better off cutting it for him.
Yeah, you think some rent would be better, but Nooooooo!
All these landlords get a tax write-off on empty rental space, usually more than what they would make with reduced rental fees. So that's why they let buildings sit empty.
Personally, I think empty stores in a shopping center are an eyesore but in the end it's still money in the landlords pocket, so they don't care how lousy their property looks.
BTW, the bar he's looking at is simply to gut and remodel for another comic store. Although Ilan is blessed with the gift of gab, ain't no way in hell he'd ever run a bar that served that demon alcohol!!!
Sorry to hear about the problems with the store. I hope Ilan can find a suitable space that will be cheaper, or can get the old bar building at a bargain price.
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Good luck to all of you!
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All these landlords get a tax write-off on empty rental space, usually more than what they would make with reduced rental fees. So that's why they let buildings sit empty.
Personally, I think empty stores in a shopping center are an eyesore but in the end it's still money in the landlords pocket, so they don't care how lousy their property looks.
BTW, the bar he's looking at is simply to gut and remodel for another comic store. Although Ilan is blessed with the gift of gab, ain't no way in hell he'd ever run a bar that served that demon alcohol!!!
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While I'm here:
HAPPY BIRTHDAY, MAGGIE!!!
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