ORLANDO—A tourist haven, Orlando's retail market takes on a seasonal aspect that's not present in many other parts of the country. So what retail submarkets are most demand in Orlando? And what are the hottest perennial retail categories?

GlobeSt.com caught up with Bobby Palta, a vice president with CBRE, to get his take on these issues in part two of this exclusive interview. You can still read part one: Orlando Emerging on Tech Scene.

GlobeSt.com: From your perspective, is it a tenants' or a landlords' market?

Palta: The market conditions depend on the area location. We have some very high-demand submarkets and some that are less so. Pricing is back to record levels. I've heard quotes on class A product rents at $55 to $65 per square foot, which is unheard of. The flip side is that it's a tenant's market for class C product. 

GlobeSt.com: What retail submarkets are the most in-demand in a tourism market?

Palta: Waterford Lakes on the east side of town is a hot area. We're seeing new development there and people bidding up vacancies. Winter Park is probably our hottest market. The Dr. Philips area, which touches the tourist corridor, is a mixed residential/tourist market that's growing fast. Those are the three really hot areas.

We also just launched the region's first commuter train, SunRail, so we're really evolving. You can't take that next major step as a city unless you have mass transit. The SunRail commuter station locations are providing opportunities for more retail development in areas such as Winter Park.

GlobeSt.com: What are the hottest retail categories in your market?

Palta: The grocery sector is certainly active. Trader Joe's is here now and there's a big buzz around it. Fast-casual restaurants and full-service restaurants are active as well.

There's handful of aspirational retailers looking in the Millenia Mall market or the Winter Park market. We have an unbelievable retail scene centered near the outlet malls.

Orlando has five malls that do sales of over $1,000 per square foot: The Florida Mall, The Mall at Millenia, Orlando Vineland Premium Outlets, Orlando International Drive Premium Outlets, and Disney Springs in Downtown Disney.