He disputes the over-development thesis at regional shopping centers by pointing out the metro area has been averaging about 800,000 visitors a week, bringing the 1.5 million population number to 2.3 million. "That brings our retail square-foot per capita much closer to the national average," Crossman tells GlobeSt.com.

Additionally, he notes the over-development charge "doesn't take into account that tourists typically spend a great deal more in a week's vacation compared to a resident." He says, "This is a strong reminder of how important tourists are to the local retail economy."

The worst-case scenario may be occurring as he speaks, Crossman acknowledges. "If, during a downturn, the amount of tourist (dollars spent) decreases dramatically, or if Disney continues its trend of keeping more and more tourist dollars on Disney property, we will have some significant challenges."