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Closed on an office building in Akron, tenants walked 3 months later
Bought a 12,000 sq ft office property near downtown Akron in March, thought the tenant mix was solid. Two of the five leases were expiring June 30 and both companies gave notice, blaming remote work and downsizing. Now I'm sitting at 40% occupancy and the mortgage payment does not care about market conditions. Anyone else bought based on pre-2023 rent rolls and find the reality much rougher?
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rowanjenkins21d ago
Offer free rent to fill it, get a broker on month to month deals.
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