What this means is that retail vacancy remains high, at 10.3%,but has stabilized over the past three quarters and constructionactivity is minimal. Meanwhile, retailers which are expandinginclude convenience stores and discounters, such as 7-Eleven, whichplans to open or convert about 45 stores by 2012. The Dollar Storesegment plans to open about 1500 stores nationwide during 2010.

There are a number of new phenomena in retailing today inCentral Florida and elsewhere. Landlords are experimenting with"pop-up" stores, which occupy small spaces for short periods, whileWalgreens and Target are significantly expanding into the grocerysegment.

The unemployment picture does not help Central Floridaretailers. The unemployment rate for the Orlando-Kissimmee MSA was12.5% in February 2010, compared to 9.2% in February 2009. Thestate of Florida's unemployment rate was 12.2% in February 2010compared to 9.3% in February 2009.