Florida's population is expected to double by 2050, according to data at the conference, and the economy in the state grows by about 6% a year. And besides the overall population increase, the Hispanic demographic, which makes up 20% of the market, is projected to double to 40%. However, one panelist said that construction costs can increase in the state by about 30% to 40% a year.

"We work hard to find good tourist markets," says William Bierberbach, vice president of corporate development for Cocoa Beach, FL-based Ron Jon Surf Shop, explaining that the state has some of the strongest tourist areas in the country. Ron Jon, which currently has six units open, is looking for spaces between 10,000 sf and 15,000 sf in specialty centers.

Home Depot has been making a push in the state for years and currently has 140 units in the state, nearly 50 more than its largest competitor, says Michael Laferle, vice president of real estate at the Atlanta-based company. The company will likely choose a developer that can get a project completed the fastest and likes grocery stores a co-tenants.