ORLANDO—We've talked a lot about Central Florida's retail void—and it's bigger than some may think. We've also talked about what Central Florida retail submarkets are hottest—and some of them may surprise you.
As our conversation with Josh Busby, a vice president at CREC, unfolded, we asked him yet two more pointed questions: What type of retail brands and concepts are in expansion mode; and what types of retail properties and submarkets are these tenants pursuing? His answers are telling.
"Specialty grocers and discount retailers are in expansion mode right now," Busby tells GlobeSt.com. "Specialty supermarket brands such as The Fresh Market, Publix GreenWise, Trader Joe's, and Whole Foods Market, as well as new-to-market healthy grocers such as Sprouts Farmers Market and Lucky's Market are looking to become the anchors of many of the infill urban projects and redevelopments under construction or planned in the market today."
For sake of example, Busby zeroes in on The Fresh Market, a neighborhood food market and produce store chain. The brand has opened locations in Mills Park, Lake Mary and West Melbourne.
Of course, grocers are just one aspect of the rising retail trends in Central Florida. Being a tourism stronghold, restaurants are also important.
"The quick service, or fast casual, restaurant concepts serving everything from Asian, Italian and Mexican cuisine are rapidly expanding across the region," Busby says. "However, with that rapid growth comes the concern that these concepts could potentially face the same fate as the frozen yogurt craze that has affected the retail real estate market in recent years."
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