Growing Trend: Single-Tenant, Net Lease Retail Development Getting More National Attention

ORLANDO-Single-tenant, net lease retail development is still the new boy on the block locally, but the success of Walgreens, Eckerds and 7-11 properties over the past five years is starting to gain more attention from national retailers in some Central Florida sectors, according to a new industry regional report from Marcus & Millichap.

“While the local landscape is dominated by regional malls and neighborhood centers, the STNL sector has gradually begun to garner attention” in Tampa, FL, Steven M. Ekovich, vice president/regional manager, Marcus & Millichap, tells GlobeSt.com.

Orlando, like Tampa, has “historically preferred multi-tenant development to STNL product,” Ekovich says. “As a result, few properties in the STNL sector are currently under construction.”