Quote:
Originally Posted by crazy_eoj
They have to cover their expenses as well. Most of these are owned by large commercial firms and when their property taxes are doubled they simply pass down the bill to the lessees. Now we have huge vacancy problems as many businesses are no longer profitable.
|
When you lease commercial space, you get two rates: The cost of space the landlord wants to charge you, and operating costs. Prop taxes are in the op costs (along with heat, electricity, cleaning, etc).
Everybody acknowledges that op costs are mostly beyond the control of the landlord.
But they can move on their sqft cost.
Thing is The Core wants to keep their charge high, seeing as it's probably at least a class A space Double Zero was in.