Why is there so much vacant commercial real estate?

[Felix Sharpe]

Hi BP,

I'm preparing to close on my first deal, an owner-occupied duplex.  With this one almost done, I'm looking to forward to finding the next opportunity.  I believe that may come in the form of commercial office space. That leads me to my question - WHY IS THERE SO MUCH VACANT COMMERCIAL OFFICE SPACE? I'm starting to notice it everywhere.

In downtown Louisville, there are several prime spots that are vacant in highly visible/heavily foot-trafficked areas of downtown - namely Main and Market Street. If anyone has any theories, please do share. @Clay Smith @Brett K. @Chuck B.

Thanks,

Felix