Part of the problem is that their mortgage usually sets a minimum price per square foot. That means that if the market crashes, the landlords can’t lease for market price without getting their investors to approve. That’s part of the reason why there’s so much empty space, because prices haven’t come down much.
Part of the problem is that their mortgage usually sets a minimum price per square foot. That means that if the market crashes, the landlords can’t lease for market price without getting their investors to approve. That’s part of the reason why there’s so much empty space, because prices haven’t come down much.