Not sleeping.

A local sole proprietor owns and operates a dry cleaner/tailor shop and a formal attire shop. One day while in the formal attire store we start talking about business and how she keeps sinking money in to cover rent.

It was interesting to learn that the landlord refused to negotiate the monthly retail store rental fee.  The formal attire shop has been at this location for 3 years. More interesting was the fact that two other units in the strip mall closed within 3 months and remain vacant.  What advantage or benefit does the landlord derive from a vacant unit?

Next I learn that the business owner had a heart attack.  Fortunately she is back to work and physically recovered.  The stress had turned to anxious and sleepless nights with 16 hour days and no time off.  With no relief in sight and business intermittent there came a tough choice.

The decision; don’t put more money into it, close up shop and pay attention to the dry cleaner/Tailor shop.

This isn’t the only instance of commercial landlords holding fast to current rentals. The news in Goodyear over the closing of Bashes is another one where the rent seems non-negotiable.

Why are commercial RE firms reluctant to “modify” rental agreements?  Is this happening in your neighborhood? cathyg