Central Florida’s retail development is the envy of other metro areas in the Sunshine State.
Orlando currently accounts for nearly 12 percent of Florida’s retail construction — bested only by South Florida’s Broward submarket in terms of new development, according to a Colliers International second-quarter Florida report that was released during August’s International Council of Shopping Centers Florida Conference and Deal Making event.
This is part of a larger trend of retail expansion in Central Florida. Developers are looking to cater to Central Florida’s growing population and tourism industry, which attracted a record 72 million people in 2017. In addition, rising occupancy rates, which are at a more than 10-year high, also have attracted developers to the area.