ORLANDO-Big-box power retailers are fighting for market share in affluent, high-growth communities in the metro region, according to a new market survey by the Orlando office of Trammell Crow Co.

Wal-Mart, Lowe’s, Linens ‘n Things and Bed, Bath and Beyond already have established positions in the path of the State Road 417 extension in the Sanford, FL area, while PetCo, Marshalls, Pier One and Off-Broadway Shoes have opened outlets in Millennia II near Conroy Road in south Orlando.

“Further south, several power centers under development in the south Orlando-Kissimmee area are competing for new tenants and retailers are making the most of it,” says John M. Crossman, a TCC senior vice president and director of investments sales for the Orlando area. “Major new retailers at the (1.3-million-sf) Mall of Millennia such as Neiman Marcus, Chanel, Bloomingdale’s, Tiffany & Co., Macy’s and Crate & Barrel have firmly positioned Orlando as a fashion retail market.”

And it’s not only the upscale specialty retailers who want to locate here, Crossman says. “Retailers like American Signature, Ultra Cosmetics, Cargo Kids and Guitar Center all opened recently and Kohl’s, Sofa Express and Arhaus all have plans to enter the market soon,” he adds.

On the restaurant development side, another area analyst, David W. Marks, president, MarketPlace Advisors Inc. in suburban Maitland, FL also predicts a new growth wave for the metro area in the leisure dining category.

“With more and more people eating meals outside of their homes, restaurant developments should continue to be strong in 2004,” Marks tells GlobeSt.com. “Because of our lifestyle, we’re continuing to see food-oriented retail developments such as the Winter Park Village and Colonial TownPark in Lake Mary, FL.”

Marks adds “a lot of these projects don’t have the typical retail setting of the past” and “it’s not a return as robust as we had historically, but things should be better in 2004 than over the last couple of years.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.