Credit Tenants Lead Retail Recovery in Central Florida

Credit tenants are driving retail leasing activity in Central Florida. According to a new report from Colliers, major brands like Best Buy, Marshalls and JoAnn Fabric renewed leases or signed new leases, plus the market captured new-to-market brands as well. While Central Florida did record negative 190,000 square feet of retail absorption, the report says that it is not an accurate reflection of the leasing activity and renewed demand.

The reopening of the economy and vaccine distribution created a perfect storm for the retail market. As Colliers describes, the reopening “saturated the Orlando retail market with unbelievable activity.” Restaurant sales were particularly good, some up 100% from the same time last year when the pandemic first disrupted retail life.