Meanwhile, there has been a major shift in consumer shopping habits led by a mass influx of the Millennial generation. This generation has fully entered the mainstream workplace and now have more discretionary income than any other generation before them. Their alternative buying habits are having an enormous impact on retailers.

GlobeSt.com: How is the shift changing traditional retail?

Hart: The “big shift” has led to a flood of closures with big box retailers such as Toys-R-Us, Sears, Sports Authority, JC Penney, HHGregg, and Macy's, while other concepts thrived including Hudson's Bay, Zulily, and Wayfair. In the restaurant segment, Tom + Chee, Blaze Pizza, Mission BBQ, and Halal Guys.

These represent some of the many chains who focused on a more casual approach to dining, and have grown significantly. Also, local appeal grocers like Publix/GreenWise, Lucky's, Lidl, and Aldi, as well as urban experiences (such as breweries and wine bars), continue to take market share from sit-down eateries by offering prepared foods that you eat or cook at home.

How can landlords survive the retail apocalypse? Here's one view. And will high-street retail work in Miami's urban core? Here's one thought.