South of Downtown, meanwhile, at least two mega retail showplaces are in the works, preparing to debut in 2002. They are the 1.3 million-sf, $300 million Mall at Millenia and the 1.1 million-sf, $250 million Festival Bay on north International Drive, the city's main tourist hub.

In South Florida, however, most retailers and restaurant chains are sketching their New Year expansion plans in light pencil as the bulk of the sales are modest and some are declining, A.T. Toroyan, a principal of Fort Lauderdale, FL-based Rotella Toroyan Clinton Group, tells GlobeSt.com. "Certain big-box segments, such as furniture, home furnishings and consumer electronics are seeing steady sales increases, while a consolidation in other areas such as pet supply stores and party goods, are slipping," Toroyan says.

Big-box space should see a slight increase in second-generation supply, but prime local space continues to have demand outpace supply, the broker says.

The Charlotte market is particularly concerned with growing big-box vacancies at several malls. City planners and brokers worry the shuttered stand-alone buildings will affect property values in nearby communities when owners are unable to re-lease the space to smaller users. Karnes Research Co. of Charlotte notes 12% of anchor stores at area shopping centers are vacant compared with a 7% vacancy level for smaller retailers at the same centers.