I have seen this happen over and over. This is the issue that should be front and center for elections but public doesn't know what is going on. Recently PE firm bought out the building which had oldest and only rock climbing gym. PE firm refused to renew their lease and forced to shut it down. The entire community of rock climbers basically died overnight. Lots of children growing up and learning this sport would not have opportunity that their parents did.
The disease of PE firm is very real. I am all for free markets but this is NOT free market. These are the cockroaches that get capital from funds that manages yours and mine 401K. They use that capital to kill local businesses, install new passive income generator like warehouse in order to cut all the costs and then sell it back to suckers for short term profits. The price of their profits are paid by huge negative impact on who continues in the area where they caused devastations.