Florida's retail space has been booming thanks to the wealth migration coming to the state. And younger Americans might be helping to drive that trend too, according to Danny Diaz Leyva, chair of the Florida real estate practice for law firm Day Pitney.

Right now, The Sunshine State ranks first in domestic and second in international migration, with 1,000 individuals moving to the state every day, according to a recent report from Colliers. Also, Florida is attracting high-net-worth individuals, with Tom Brady becoming one of the latest to join the trend by moving his office to the Greater Miami area. The wealth migration has helped drive the retail sector in the state.

And it's not just the senior population or veterans in their respective line of work – but younger Americans are taking their money to Florida too, according to Leyva.