Case study Real estate question: 1. Mr. Johnson owns a small commercial property which has 4 units with a total square footage of 9384. The property is located in an area suffering from high vacancies. The current tenants remaining are ABC Corporation, who occupies 2888sq ft. And recently renegotiated and lowered their lease rate through 2011 and XYZ electronics corp., who occupies 3350 sq.ft. With their lease due to expire December 2010. The remaining 2 vacancies are marketed by a local broker. Currently there are no potential tenants viewing the vacant graces. What might Mr. Johnson do to retain his 2 tenants and attract new renters to his property and how might this impact his income and/or expenses this year and next year? Please explain your answer.
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