Two Scranton office buildings empty as landlords stumble (Taylor, Dickson City: real estate, lease)

[weluvpa]

Two Scranton office buildings empty as landlords stumble


Published: September 28, 2010

Two major office buildings in Scranton confront huge vacancies and action from lenders.

The lagging fortunes of both buildings underscore a weakness in downtown real estate. Even the enthusiasm over The Commonwealth Medical College, rising just a few blocks away, and the downtown residential project such as the Connell Building, 417 Linden, and others, have not stemmed the tide of departing tenants.

The departure of two of his key tenants put the property in distress, he said. He said he offered to modernize their space in his new lease proposal. He blames the lack of parking and the mercantile tax levied on the gross receipts of city business. The parking garage adjacent to the Scranton Center is not part of the building, he said. The tax is the bane of businesses, he said.

"Tenants are paying daily rates to park, and business have to pay the mercantile tax," Mr. Weber said. "When times are hard, like now, those become big expenses."

Mr. O'Malley said the city tax structure makes it difficult to run a small business in the city, but he is committed to the downtown.

OOOOOOOOOOUUUUCH the reality of the situation has finally come home ..............Downtown is dying and there is NOTHING that can be done.

The taxes seem to be a HUGE part of it, hmmmmmmm WHERE HAVE I HEARD THAT BEFORE. ROFLMAO

[toobusytoday]

I don't get it, why is this funny?

[SteelCityRising]

Originally Posted by toobusytoday

I don't get it, why is this funny?

It's "funny" because the more the city dies, the happier the people in Scranton seem to become because it gives them the opportunity to make fun of the mayor. For those of us who left it's like a car accident. You don't want to look, but you just can't help yourself.

[The-Electric-City]

Downtown Scranton is dying because two businesses relocated? Really?

It is obvious that there are serious problems, it is obvious that taxes are a BIG problem, but two businesses relocating does not mean the downtown is dead. I can't recall the exact number, but Downtown Scranton is home to somewhere around 550 businesses, two leaving is not the end of the world.

[weluvpa]

Did you read the article, the buildings are EMPTY its not just the two that are leaving, its all the others that left before they did that nobody ever heard about.

The article CLEARLY covers what I have been saying for years as to why the downtown was dying. The taxes, PERIOD.

This really has nothing to do with the mayor and lets not try to make about you either ok.

I never said this is funny, it is funny that I have been saying this for years only to be told by some that its the sprawl, its the residents fault, its everything but the reality of the fact that until the tax situation is fixed you blow sunshine all day long about the Connell building and 500 block and so on and so on, but I doubt that there will be many business's left in the downtown to support the residents. It won't take long to realize that the supposed benefits of downtown living have been smothered by the lack of everything they need and they will start to look elsewhere for living.

Nothing will change until the taxes are changed.

[theatergypsy]

Originally Posted by RestonRunner86

It's "funny" because the more the city dies, the happier the people in Scranton seem to become because it gives them the opportunity to make fun of the mayor. For those of us who left it's like a car accident. You don't want to look, but you just can't help yourself.

Since when does one person's post speak for "the people in Scranton"? And where is all this "happiness" of which you speak? And the Mayor wasn't mentioned until you did so.

Respect for your opinion diminishes when, with each post, your only point seems to be to disagree with Dan.

I'm not the argumentative type, and rarely do I enter the fray, because certain posters are perfectly capable of defending their points of view. (Notice I said "rarely" because there are a couple of instances where I have vigorously defended what I see as valid arguments.) In this case, you have let an emotional response interfere with a considered, educated rational response.

Yes, I'm off-topic. Just as you were. Getting back to it -

"The (mercantile) tax is the bane of business": A quote from one who is directly feeling the effects of that tax in this time of economic stress, and something that more than one poster has stated over my short tenure on this board. Oppressive taxation was one of the main causes of the American Revolution. In modern times, the revolt has manifested itself in a mass-exodus of businesses to less-restrictive venues like Dickson City and The Shoppes at Montage.

$.02

[Magritte25]

Yay!!!!!!!!

A 150 year old city is on the decline! ROCKIN! Woooooooooooooohooooooooooo!!!!

Can we say smug? My Goodness!

[Mr Yuk]

2 words: MERCANTILE TAX. Scranton's mercantile tax is ridiculous, all it does it drive businesses over the city line to Moosic, Taylor, Dickson City....where businesses can escape the city taxes, yet still be close enough to draw customers from the city. Until Scranton brings its business taxes in line with those of the towns over the city line, Scranton will continue to bleed businesses.

[Mr Yuk]

Originally Posted by The-Electric-City

I can't recall the exact number, but Downtown Scranton is home to somewhere around 550 businesses, two leaving is not the end of the world.

But there's probably not all that many once you subtract the bars, lawyers offices, and non-profits.

[Magritte25]

Originally Posted by go phillies

2 words: MERCANTILE TAX. Scranton's mercantile tax is ridiculous, all it does it drive businesses over the city line to Moosic, Taylor, Dickson City....where businesses can escape the city taxes, yet still be close enough to draw customers from the city. Until Scranton brings its business taxes in line with those of the towns over the city line, Scranton will continue to bleed businesses.

I totally agree with this!