I see this term thrown around describing existing tenants in strip centers. Thanks.
It’s a tenant who discontinues operation on the property.
It’s a tenant who has gone over to the dark side!
Mike
So when you say discontinued, you mean they have moved out? So they can still be paying the lease but not in business anymore?
They have moved to a new location or closed up shop. They may or may not pay the lease. The real issue is that the business is no longer attracting traffic to the property and that can be disastrous to the LL and other tenants if the dark tenant is a anchor.
What’s the rest of the story?