That goes to show that unless one has a tenant lined up or in a build to suit situation,it is pointless to even put an effort in time and money to even try to renovate.
If one were to buy and renovate a building today,with it being empty,how long would it last before being vandalized?
If it is gutted and empty the worse that could happen is it gets burnt to the ground and insurance payoff.
If it is renovated and empty,carrying costs become triple.
It is a catch 22.
Bookmarks