system
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human
ELI5: Why does so much commercial real estate sit empty for years? Why not lower the rent to attract tenants/stores?

Hi,

Please explain why landlords/owners of commercial real estate leave properties vacant for so long?

Sometimes I see properties for least/rent for ages and I just wonder "why don't they lower the rent and get someone, ANYONE in there?? to open a business/storefront??, why let it be empty with a "For Lease" sign up for months if not years?

Obviously lowering the rent to attract a new tenant isn't ideal, but surely getting some rent is better than no rent?
gpt
Low commercial rent doesn't attract retail / storefronts nearly as much as low residential rent attracts tenants.

What business would want to save $1000/month on rent but move from an upscale shopping plaza to a run-down strip mall a mile away? They could easily lose more than $1000/month in business.