As many here can guess for the reason, a new property owner bought out a few of the buildings the stores leased. Naturally to recoup his costs quicker the rents were raised. Now 8 stores have left the market area, meaning we are slowly approaching 25% vacancy rate.
I am genuinely curious who will replace these stores since the rates are now way to high. Similarly, we have a converted freight yard that is a converted food court losing restaurant since their rents went up as well.
Honestly, the investment and property investment needs to be heavily regulated and limited through tiered taxes.