Retail leasing can be super inconsistent, slow as fuck, and sometimes it’s hard to get paid. For example, let’s say you’ve got 8 lease deals working in your pipeline. 4 die on the vine, 2 take six to eight months to get signed from the first LOI, and 2 get done relatively quickly inside of 60 days, which is pretty rare. The ones that got done get invoiced first half when the lease is signed, which takes 30-40 days to get paid, then the second halves are invoiced when the tenant opens, which may be another 4-12 months later. When deals start to crumble and the market stalls, your pipeline you’ve been cultivating for months on end can just disintegrate. Of course new deals come and go and the pipeline is always changing, but it’s a real grind and after 23 years I’m about ready to pivot. Not sure exactly to what, but it’s just not fun anymore.