ORLANDO-With projections of strong population and job growth, retail rents are expected to rise in 2008, according to the 2008 National Retail Report by Marcus & Millichap.

According to the report, asking rents will gain 3.5% to $19.51 per sf, while effective rents rise 4.2% to $17.67 per sf. The report also notes that supply is expected to exceed demand in the short-term, which could lead to increased vacancies. However, the balance between supply and demand could reach greater equilibrium before the year ends.

According to a CB Richard Ellis Q4 Orlando retail market report, average asking rents at neighborhood centers are $17.27 per sf, specialty centers $30 per sf, community centers $16.57 per sf, power centers $29.09 per sf, super regional centers $32.96 per sf and mixed-use center $27.08.

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