Retailers Look to Florida

ORLANDO-Florida is one of the hottest states for expanding retailers, despite the fact that construction and insurance costs are among the highest in the country. Representatives from a group of chains presented their expansion plans here at the International Council of Shopping Centers’ Florida Conference.

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.