Is There a Tenant Out There?

It's been 10 months now learing about commercial real estate. Here's what I know.

One - there are very few retailers or restaurants who are actively looking to open new stores. Some will tell you they are- and perhaps there is a shred of truth. If they can find landlords that are on their death bed - then maybe. If they can find AAA markets at B market prices - maybe. But otherwise - save your breath.

Two - there are landlords out there who think that their development is immune to the current roll back in lease rates. These landlords seem to think that just because they bought the dirt that makes it still work inflated rates. They take so long to come to reality when presented with an offer that the retailer who made it can find two others to take their place.

Three - banks care little. The financial institutions have some compasion but not much. They drive harder on the front end and they drive harder on the back end of the deal. They make the deal take longer, cost more and mean less by the time it gets done - if it does.

There is nothing much happening but everyone is busy rushing from call to call. Chance to chance. All the while hoping that their deal will work.