MIAMI-Cautiously optimistic about 2011. That’s how Brian Kosoy, CEO of the Sterling Organization, feels about Florida’s retail real estate industry.

Sterling owns, manages and operates several million square feet of retail space in Florida, and more than 6 million square feet throughout the country. As he sees it, South Florida is poised to become the most attractive market in the state for investors due to its relationship with South America, population density, and limited retail square footage per capita. He also expects investors to take advantage of opportunities to acquire deteriorated shopping centers with solid fundamentals in prime locations.

“Opportunities will exist for well-capitalized owners who can increase the amount and quality of cash flow overtime to reestablish an asset as investment-grade,” Kosoy says. “We also expect to see off-market transactions with developers who are looking for quick and quiet solutions. The focus should be on distressed owners rather than distressed assets.”