Florida cities dominate the list of top retail investment metros in 2023, according to a new report from Crexi.
Miami tops the list, while West Palm Beach comes in #3 — and the Sunshine State locales of Fort Lauderdale and Tampa/St. Petersburg also place in the top 10.
Miami nabbed the top spot with an overall vacancy rate of just 3.1%, according to Cushman & Wakefield data, while on Crexi, average asking prices for Miami retail jumped by over 20% annually year over year in 2022. Gross asking rents averaged $37.35 per square foot per year and absorption clocked in at 86,892 square feet through Q3 2022.
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