Not much different than somebody trying to sell classic car.
Rather than sell the car for $23k in 2009, they say "No, that's not enough. I need $25k."
10 years later, after they've spent thousands on maintenance & storage --- they've still got the car.
In general, I agree with you. I think owners often over-estimate their ability to find new tenants, and then they're stuck with empty buildings. Then it can become a domino effect, as other tenants suffer from the half-empty shopping center.
But once again, that's the trick --- some people are good at estimating the "optimal" leasing/sales price, and some people aren't. I suppose you can apply some science/data to the decision, but there's also a fair amount of intuition, hustle, and luck.
Willing to guess there are millions of Beanie Babies, in closets across America...........all because somebody wouldn't budge $5 on their price.
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In response to this post by Tafkam Hokie)
Posted: 01/17/2019 at 1:38PM