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Metropolitan DC Local Politics
Reply to "Downtown DC is a storefront ghost "
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[quote=Anonymous][quote=Anonymous]I've never understood why landlords do this; presumably there is benefit they get from letting these storefronts sit empty than from lowering the rent to at least get something, but I'm not sure what it is (maybe a tax loss thing?). Seems like something the city should take action to combat.[/quote] most retail leases are 10 years with options to extend. In higher end buildings sometimes the landlord will do the interior buidlout for specific tenants. It often is better for the space to sit empty, take a write off, than get stuck with a shitty tenant for 10 years. Also, certain types of buildings can only have certain types of higher end retail. eg, a class A office building is not going to have a low rent weed store.[/quote]
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