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Retailers Find Bright Spots in Downturn

KISSIMMEE, FL- A slowdown in development and a focus on smaller boxes will keep vacancy rates relatively healthy, speakers say.

By Debra Hazel | Updated on August 19, 2008

KISSIMMEE, FL-Florida remains a strong retail market despite the downturn in several markets compared to two years ago, according to the 2008 Florida Retail Report, released in conjunction with the ICSC 2008 Florida Conference here. A slowdown in development and a focus on smaller boxes will help absorption, and keep vacancy rates relatively healthy, speakers at the conference say.

“There are still a large number of projects that are scheduled to deliver over the next 12 months, however, and could cause statewide occupancy to decline further through 2009,” wrote Justin M. Greider, associate director with Holliday Fenoglio Fowler Orlando, in the report.

Value, however, is important. The small box now dominates today’s climate, with retailers of less than 15,000 sf primed to do well. Drugstores, dollar stores, auto parts retailers and grocers opening smaller units are expanding.

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