That's a new assessment from Frank W. Herring Jr., president, St. Joe Commercial Co.

Wal-Mart, Home Depot, Lowes, Walgreens, Publix Target and BJs will continue to dominate the superstore, drugstore, home improvement, grocery and wholesale club sector, he predicts.

Suburban pockets with strong population growth and large tracts (50 acres or more) to accommodate superstores and home improvement centers will be taking play away from most urban areas, the developer says.

In the master development arena, town centers continue to pick up interest among area municipalities. "Everybody wants one," Herring tells GlobeSt.com. Maitland, Baldwin Park, Altamonte Springs, Winter Springs and Downtown Orlando are all working on town center projects.

Among cities, "look for new efforts by Winter Park to expand its Downtown and core area," Herring says.

As for the Mall at Millenia's planned Oct. 28 debut on 405 acres at the new Conroy Road-I-4 interchange axis, the developer is confident the 1.3 million-sf center will usher in a new era of high-fashion and high-dollar sales.

"It's well-positioned to address Central Florida's lucrative tourist market," Herring says. "It's also well-positioned to capture upscale fashion demand from Central Florida's resident base" because of its location midway between Winter Park and affluent Windermere, FL.

The $250 million, 1.3 million-sf Taubman-Forbes retail centerpiece will also steal sales from rival Simon Property Group's 1.6 million-sf Florida Mall, only five miles south of Mall at Millenia, the St. Joe executive predicts.

He thinks Millenia will do at least $250 million in annual sales. Other analysts, such as David W. Marks, president, Marketplace Advisors Inc., Orlando, have told GlobeSt.com Millenia will do $350 per-sf-sales or better. The national average is about $250-per-sf.

Instant Insights /

St. Joe's Herring Picks Four New Retail Hot Spots

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