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!