Downtown Lines Up As Potential Retail Hot Spot

ORLANDO-Bouncing back from a rough 2001-2002 leasing period, Central Florida’s 55.8-million-sf retail market is moving into 2004 with a relatively overall stable vacancy level of 6.84%, an improvement from 6.89% in June 2003, according to a new market analysis by the local office of Trammell Crow Co.

“After several major retailers declared bankruptcy in 2001 and 2002, the worst seems to be over,” Trammell Crow senior associate Amy Young tells GlobeSt.com.

But submarkets with rising vacancies continue to be found at the 11-building, 2.9-million-sf International Drive tourist area; the 20-building, 2.3-million-sf Casselberry-Winter Springs hub; the seven-building, 645,732-sf St. Cloud area; the 109-building, 1.3-million-sf Clermont market; the 15-building, 1.8-million-sf South Orange axis; and the 24-building, 3.6-million-sf central area of Orlando.