MIAMI—It was literally standing room only at the University of Miami's (UM) fourth annual Real Estate Impact Conference last week.

During the “Retail Evolution and Revolutions” panel, Michael Comras, president and CEO of Comras Company, moderated a discussion about the dramatic changes taking place in the region's retail market.

“Miami is now the third-biggest market after New York and L.A. for luxury retail,” said David Forbes, a partner at the Forbes Company, an owner and developer of iconic regional shopping centers and co-developer of Miami Worldcenter's mall.

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