Owners of Retail Stores/Buildings-a Must Read
AFTER COMPLETING 33 YEARS IN THE REAL ESTATE BUSINESS, I HAVE SEEN IN THE PAST 12 MONTHS A DECAY SPREADING THROUGHT RIDGEWOOD, MASPETH, GLENDALE, MIDDLE VILLAGE, AND REGO PARK AREAS PERTIANING TO THE CLOSINGS OF MANY STORES.
Join the discussion below, or Read more at Glendale Register.
Since: Apr 12
#1 Feb 22, 2013
date:FEBRUARY 22, 2013 So many Landlords do not belong as Property Owners of Commercial Retail Stores. They are for the most part to head strong, and not flexible with tenants struggles and or market conditions.
Their reply always when their store is empty is, I WAS GETTING X AMOUNT!
So even if rents have gone down, and many stores are vacant and more becoming vacant, they disregard the most pertinent Market facts, no matter how much they are told, let alone from a very hands on experienced Real estate Broker.
THEY HAVE TO LOSE MONTHS OF INCOME, BEFORE THEY WAKE UP!
(some lose 6 months rental income and still do not adjust their asking rents)
POINT-IMAGINE IF THESE LANDLORDS NEEDED SURGERY? DO THEY TELL THE SURGEON WHAT TO DO BEFORE THE OPERATION, NO!
YET THEY DEFY THE ADVICE OF A PROFESSIONAL EXPERT IN THE REAL ESTATE INDUSTRY.
*There can not be change for the better without the cooperation of the Landlords themselves. So if they then want to sell with a vacant store, it becomes difficult for any buyer to attain a mortgage with a lot less income.
You couldn't get better advice from a Real Pro, in the Commercial field of Real Estate, than the articles author, JIM TURANO. An experienced individual, and one that any owner, or Landlord should have in their corner at all times.
THE MIDDLE VILLAGE COMMUNITY, AND THE SURROUNDING COMMUNITIES SHOULD BE MADE AWARE OF CURRENT MARKET CONDITIONS, AND SEEK THE PROPER ADVICE OF A REAL ESTATE BROKER, SUCH AS JIM TURANO, BEFORE THEY MAKE ANY DECISIONS. AND THE BEST PART IS, IT DOES NOT COST YOU ANYTHING!
RETAIL STORES IN ALL COMMUNITIES ARE IN TROUBLE, CLOSING DOWN, AND INDIRECTLY THIS AFFECTS ALL THE RESIDENTS IN EACH COMMUNITY!
A SERIOUS PROBLEM RIGHT NOW!
#11 Mar 23, 2013
a very special thank you to the Real Estate Web Site,'TRULIA' for sending me the acknowledgement award this week of being in the TOP 1% MOST PROFILE VIEWED ON THEIR ENTIRE WEB SITE.
JIM TURANO/BROKER*DIVERSE REAL ESTATE*
73-01 METROPOLITAN AVENUE, MIDDLE VILLAGE,NY
(MARCH 23, 2013)
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