ownership demands are too high for rents - which leads to problems leasing.
It reminds me of the building at King and tecumseh, there is a high quality, high profile corner retail unit that has been empty since the building opened 5 years ago. It's a case of a landlord wanting a high quality tenant when there is none. So the units sit empty.
Eventually, however long that may be, the landlord will settle for a lesser, riskier tenant that pays less, to fill the space. But it will take time for them to adjust and realize they will likely lose money on the space.
Wicked Willy is talking about the retail spaces on the interior of the laneway for The Carnaby.
There is generally speaking a lot of empty retail in the new condos in this area - uptake has been very slow. The retail units around Lisgar Park are largely empty as well, and many of those buildings have been done for several years now.