[kidyankee764]

Originally Posted by MOforthewin

I've actually looked into rent rates because I own a small retail business. The rates are high.

One theory I have with shopping malls, and these large strip malls that are mostly owned by large corporations is that they have some properties that do super super good and they make big $$$$ from. And the other, large majority they just break even or use that as their tax write offs.

I've heard that reasoning from a number of sources in real estate. Otherwise you'd be giving discounts in order to fill your strip mall up so it doesn't look empty.

Pretty soon here we are only going to have ONE regular mall from North Sarasota/Bradenton all the way down until you get to Coastland in Naples. Edison Mall, South Sarasota Square, and Port Charlotte Malls will all be closing down most likely in the next year due to ch11. Otherwise you will have Miramar or Sanible Outlets. Gulf Coast Town Center last time I was there was about 60 percent vacant ghost town.

Pretty sad. For me in Punta Gorda I will nearly have to go to Bradenton (UTC) or Naples for a regular mall. Miramar Outlet last time I was there last year had a number of empty stores too. When I went there in 2001, 2002 before moving back north that was an excellent outlet mall!

I still don’t see any hard evidence to support your claims, though.

[Vinnyvette]

For the love of god… Florida consists of two things. Beaches and RETAIL SPACE. Miles after mile of concrete strip malls, mega malls, and still more “retail spaces.” Give it a freaking rest!

[Arcenal813]

Originally Posted by Vinnyvette

For the love of god… Florida consists of two things. Beaches and RETAIL SPACE. Miles after mile of concrete strip malls, mega malls, and still more “retail spaces.” Give it a freaking rest!

And storage units.

[MOforthewin]

Originally Posted by Arcenal813

And storage units.

The storage units I can see why. No basement. We had one for a few years and they kept jacking the rent up so we chucked it and had an overheard storage shelve installed in our garage.

Anyway, I'm still looking for retail space.

Here in Southwest FL there is TONS of vacant retail spaces. Both in old stripmalls and new ones with anchor stores. Like they will build a new strip mall. They get a few tenants and then when their lease is up in a year or two the place is gone and sits vacant.

A large stripmall with a TJmaxx anchor, Publix and other stores had a spot sitting empty. I emailed them and they want $5800 a month, more than twice the MALL. The Publix near me has vacant spots and the plaza is owned by Publix. One of the large vacant spots has been vacant for NINE years now. They want like 10k last I checked. You'd think after NINE years they would lower the rent to entice someone in there to bring in money.

Another large one I looked at in Venice by the dermatologist I see has a number of vacant spaces in it. Busy because it has an anchor store. They want $3800 for small shops! They have a lot of vacant spaces that have not rented to anyone.

I almost wonder if they can use it as a tax write off as a loss since it's not being rented. Otherwise makes no sense to have a bunch of empty spaces and not lower rent to bring in the money.

Small business brick and mortar retail is simply dying out. It's only going to get worse. Another good strip mall I looked at but too much is busy lots of big box anchors but nearly every small shop is a chain shop, not mom and pop.

[MOforthewin]

Originally Posted by kidyankee764

I still don’t see any hard evidence to support your claims, though.

Must not live in the area. Down here vacant spots all over. Our crappy local mall is basically being torn down soon. Dillards, Beals, movie theater will remain but it's being gutted and putting in some apartments and a few shops.

last time I was at the outlet mall in the Tampa area near my cousins house a lot of the shops were going. Vacant spots and the ones I liked to go to were gone. Just in a years time.

[floridarebel]

It'd be nice to be able to ride your bike or walk to all these shopping places. Too bad everything is made so you have to drive what feels like 50 miles to get there.

[MOforthewin]

Originally Posted by floridarebel

It'd be nice to be able to ride your bike or walk to all these shopping places. Too bad everything is made so you have to drive what feels like 50 miles to get there.

Except it sucks in the summer! Like the outletmall by me is slow on the weekday in the summer when it's raining or humid. The indoor mall was pretty busy actually. Nice ac. One in Ft. Myers. The mall closest to me is a waste of time.

I want to be in a traditional mall.

[DanielAvery]

And storage units.

Elsewhere on this site, some members and I recently had a good moan about how so many car washes and self-storage facilities are suddenly popping up. One member offered that these two business types are often used as a "placeholder" for owners of a good piece of real estate who are simply waiting for the property value to go up, then sell it to someone wanting to re-develop it into something more substantial.

[MOforthewin]

Originally Posted by DanielAvery

Elsewhere on this site, some members and I recently had a good moan about how so many car washes and self-storage facilities are suddenly popping up. One member offered that these two business types are often used as a "placeholder" for owners of a good piece of real estate who are simply waiting for the property value to go up, then sell it to someone wanting to re-develop it into something more substantial.

I have no use for a cash wash unless you live in an apartment. The self serve ones that pop up all over around here are never very busy when I drive by them.

[beach43ofus]

Originally Posted by Arcenal813

And storage units.

...and car washes...what is what all the car washes? Are they money laundering fronts?

Prior posts say they are placeholders while the price of the land under them appreciates....maybe so.