MIAMI—Miami is the hottest retail market in Florida. But it's not the only opportunity in the Sunshine State. Indeed, far north of Miami there's a retail market that industry watchers say has untapped potential.

GlobeSt.com caught up with retailer/landlord representation brokers leading Franklin Street's North Florida retail division to talk about the retail climate in North Florida. Managing director Carrie Smith and director of leasing Whitney Kantor sound off in part two of this exclusive interview series. You can still read part one: How Historic Buildings Fit Into Modern Retail Trends.

GlobeSt.com: Is Jacksonville an underserved retail market?

Kantor: Jacksonville is experiencing the same trends that have been creating sought-after and thriving neighborhoods in cities across the country. When coupled together with our business growth, this trend shows that we are a thriving urban city and that bodes well for all our communities from the urban core to the beaches. Most importantly, it says to retailers and restaurants that the Jacksonville market has a lot of untapped potential with significant opportunities and a healthy business climate.

GlobeSt.com: How will these trends impact or enhance retail opportunities in Florida this year?

Kantor: Retail everywhere. The lack of construction over the past few years created a supply shortage of shopping centers and traditional asset classifications, such as power centers and malls, retailers responded by seeking locations that were non-traditional—vacant and abandoned locations—or smaller well-positioned 10,000-square-foot centers that have become popular. That trend will continue as retailers seek sites that will generate sales and traffic and look outside the box of traditional shopping centers.

GlobeSt.com: How is the next generation and its preferences impacting traditional retail?

Kantor: Gen Z—the marketing buzz word for 13 to 21-year-olds—and those that follow Gen Y are once again changing how retailers market and the shopping experience. Mostly experience is necessary to drive this generation into brick-and-mortar stores. You have to offer a solution that can't be solved digitally or an experience that can't be replicated through online outlets.

GlobeSt.com: Is Jacksonville an underserved retail market?

GlobeSt.com: How will these trends impact or enhance retail opportunities in Florida this year?

GlobeSt.com: How is the next generation and its preferences impacting traditional retail?

Instant Insights /

This Retail Market Has Untapped Potential

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