MIAMI—While many tourists flock to America's panhandle lookingfor sand and sunshine, Florida's retail development market is doingthe opposite: moving indoors. According to JLLresearch launched today at the International Council ofShopping Centers Florida Conference in Orlando, nearlyhalf of all retail commercial construction happening in the statein the first half of 2014 is taking place in malls and shoppingcenters.
“While most markets are seeing a boom in grocery-anchored powercenters or strip centers, Florida has a distinct need fortraditional retail assets that's driven by the tourist shopperbase, which prefers a one-stop shop for their goods along with aclimate controlled experience,” says John Schupp,SVP of retail development at JLL.
Florida's construction numbers stand in stark contrast to therest of the country, where the retail development pipeline remainsslim, with just 45 million square feet nationwide underconstruction. However, Florida benefits from expanding retailersand increasing investment allocations. More than 29% of all newretail deliveries in the United States in the second quarter of2014 occurred in Florida, and its major cities are absorbing thespace well.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
