I read with interest your recent article referencing storefront vacancies that have “blemished many of New Jersey’s retail corridors.”
The so-called experts you mentioned in the article were quick to indicate that the reluctance of banks to extend financing to small operators and Internet sales, which are not subject to sales tax, are major factors causing these vacancies.
I am sure the state and U.S. senators who seek to impose sales tax on Internet sales have the interest of the small operators in their hearts.
Also, I am sure that R.J. Brunelli & Co., a retail real estate broker, would like nothing more than to have banks loosen credit for new ventures so they could move more real estate, whether the investment was sound or not. The article goes on to say that Walmart and other big-box stores are doing relatively well and adding retail space. I wonder how many of the storefront vacancies were caused by Walmart impacting the ability of small operators to compete.
Further, I wonder how many of those vacant “blemishes” are caused by commercial land developers who build projects with no tenants for years. I can’t be the only person who drives by these construction sites saying to myself, “What could they possibly put in here that we don’t have already?” Armand Graziani South Brunswick