Just in case you might have missed it in the aftermath of the New Year, the San Jose Mercury (Click on the Title to see the complete article) reported that there is going to be a dramatic shift in the power between Landlords and Tenants.
The power will be moving to the Tenants, marked by rising vacancy rates (especially in the retail areas) and weak to no rent growth. For the Landlords, there will be intense competition, more problems with bankrupt Tenants, reluctant Lenders and little, if any, rent growth.
If you're working with Tenants, this is good news except that you'll probably still be working with unreasonable Landlords. If you're working with Landlords, it's extremely important to make sure that they understand the current environment and remain reasonable.
Your comments are always appreciated. Thanks for reading.
Monday, January 5, 2009
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