Prologis, which built the business park, would also be required to build the roundabouts after a traffic study. When asked what the weight limit was on the Hansen Road overpass, Balaji said the overpass was not designed for commercial truck traffic.
Raymond Dart agreed with a majority of his neighbors wanting Hansen Road closed at the overcrossing. These truck drivers and commuters are just going to get where they need to go no matter what. Traffic, we say, is like water. Rickman agreed that they would have to take their time and check what impacts closing Hansen Road could bring. During the Saturday meeting, residents discussing the traffic watched as a tractor-trailer truck emblazoned with the Amazon logo drove past the group on Von Sosten Road, off the designated truck route.
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Tracy Press Digital Subscription. Get Started. View all rates. Have a promo code? Find Offers. Sorry , no promotional deals were found matching that code. Promotional Rates were found for your code. Edit Close. Toggle navigation. Close 1 of A sign and traffic markers try to keep commercial traffic off Hansen Road. A sign warns commercial drivers they are prohibited from traveling on Hansen Road.
Courtesy Vannie Dart. A UPS driver checks his truck as he tries to turn past a barrier with his tractor-trailer truck. District 5 Supervisor Robert Rickman was aware of the rural truck situation. Recommended for you. Most Popular. Videos Sorry, there are no recent results for popular videos. Latest e-Edition. Tracy Press - Nov. Follow us on Facebook. It might be vacant for a long while, as some neighbors are challenging the PUD permit in court. Screenshot from Google Street View by the author.
For both residential and commercial properties, the answer might be land speculation. In a market like DC, it's not uncommon for the land underneath a building to be more valuable than the structure itself. If an investor has purchased the land and is holding it for future redevelopment or sale, they might not want the property encumbered with a tenant. It might seem ludicrous that there are investors out there with so much money that they can just hold assets like that without putting them to work in the interim.
However, all forms of property management and land use have costs, and depending on the condition of the building and the land, the costs of putting it to work might be greater than the potential rental income—even something as marginal as a surface parking lot on a vacant parcel.
Sometimes it's as simple as the fact that the owner of the building may have had it for a long time and paid off any mortgage. Commercial property leases tend to be much longer than apartments. You might think of a two-year lease on an apartment as a long commitment, but office and retail tenants tend to sign for five to 10 years. This partly reflects the risk involved in commercial property management, as well as the preference of the tenants in having a sense of permanency.
Office tenants sign the longest leases. You could imagine how difficult it would be to find a business on Google Maps if they were moving every few years, and the consequence is that retail leasing tends towards long terms. This brings the average lease term for retail to 7. In urban areas like DC, retail often comes in the form of mixed-use development with offices or apartments above, and retail below.
This makes retail often an accessory to a larger office or multifamily development, and creates a chicken-and-egg problem. Many retail tenants do not want to commit until the office or apartment spaces are leased and establish a customer base, which may hold back the financing of a project. This is one of the many challenges that makes mixed-use, smart growth developments difficult because the financing is increasingly complex. Later on, when a office building is being slated for redevelopment, the owner may choose to leave the retail portion vacant to not commit to new leasing while they await the move-out of a major office tenant.
This means that more and more, retail corridors try to find a very specific mix of retail offerings. A landlord might struggle to attract a restaurant because the adjoining retail is not suitable to that specific tenant, or a specific shoe store might want to be close to specific clothing shops that cater to a specific market segment.
Right to go dark means that if a retail tenant, like a bank branch, chooses to close that location for business reasons, they can close their operation while still finishing out their lease. In a kick-out termination clause, the landlord may terminate a lease for lack of performance on the part of the retailer. Recent trends in retail have negatively converged in some neighborhoods.
Online shopping is growing at a rapid pace. On top of this, major back end changes to the logistics, technology, and marketing that support street retail that are invisible to consumers can be seen in the rise of chains and franchises, which typically pay a higher rent per square foot than a local retailer.
Increasing foreign equity investment in American real estate also means that the landlord might be far away, and multinational chain brands are what they know. At Park Place Apartments at the Petworth Metro station, one storefront has been vacant since the building was delivered in Base images from Google Street View. Other times, landlords are simply used to a certain rent level from high-end retail chains like a Marc Jacobs or even Gap.
If the market changes, the landlords sometimes may hold out in expectations of higher rents. At Medtrade, you can see 50 to 60 customers, face to face, in two days. With his new company just getting off the ground, time and money for advocacy are not a priority just yet. I believe in what AAHomecare is doing.
While the miseries of Medicare are behind him, Tracy has voluntarily taken up a sport that some might view as torture. I had never done a distance race.
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