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Fundamentals Minimize Jax Retail Downturn

JACKSONVILLE, FL-Increased shipping and military growth sustain the local economy.

By Carl Cronan | Updated on April 02, 2009

(Carl Cronan is editor of Real Estate Florida.)

JACKSONVILLE, FL-A growing military presence and increased shipping activity are propping up the local economy, though northeast Florida isn’t entirely immune from the national retail downturn. Yet sector experts believe this market can avoid as much of the pain as others in Florida and the US are now enduring.

“We’ve kind of controlled the growth of our retail,” Gary Montour, senior vice president with Jacksonville-based Colliers Dickinson, tells GlobeSt.com. “We didn’t just throw up a lot of spec stuff.”

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