MIAMI—Orlando’s retail market is witnessing a bona fide recovery—or at least more stability than it has in recent years. Part of the proof comes via 10 new leases spanning 57,300 square feet.

CREC represented retail landlords of five Central Florida shopping centers in the deals. The 10 new tenants will occupy space at International Festival, Waterbridge Downs Shopping Center, Colonial Promenade, Hancock Village, and Berry Town Center.

“The retail market in Orlando is starting to slowly stabilize,” CREC vice president Josh Busby, who represented the landlords in all the transactions, tells GlobeSt.com. “Market rents are now balancing out with landlord's proforma rents, which creates opportunities for tenants to expand in the marketplace. We are also seeing tenants sales gradually increase which shows that consumers now have a little more disposable income to spend in the retail market.”