A total 7.8 million sf of new space is either proposed or underconstruction. On the drawing boards is another 2.5 million sf. Atotal 3.9 million sf came on line in the last 12 months. And theaverage vacancy rate of 9% is one of the lowest in the state.
"Orlando continues to exhibit strong population and employmentgrowth, translating to an increase in demand for retail productsand services," Real Estate Specialists Inc. president Alan Charrontells GlobeSt.com.
Retail expansion in the immediate future is expected to bedominated by new mall construction and expansion of existingproperties, category killers and supercenters locating in newmarkets and repositioning in old ones.
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