TAMPA,FL-According to a new study just released by CB RichardEllis, 70% of retailers in the US believe that the overall economyis improving and 92% are planning to increase store openings.

In most of Florida, says David Conn, executive vice president inthe retail services division at CBRE in Tampa, many deep valueretailers, such as Family General, Dollar Tree, Big lots, Aldi’s,and TJMaxx have expanded aggressively during the recession, whileothers stopped expanding. The deep discounters could do this,because they work on low margins and can’t pay high rents, hesays.

Today, things are changing. "There is a cautious optimism amongretailers," says Conn. Most are looking a couple years down theroad, he says. "They’ve cut costs to the bone, so the only way toincrease their bottom lines is to expand. If retailers see a goodopportunity and the rent’s right, they will take it," says Conn."Rents have come down, on average, 30%," he says. Of course, theretailers which are just surviving can’t take advantage of thesituation, says Conn.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.