Orlando is not only an interesting city but also a very strong market for retail. This region is one of the top markets in the country for both population and job growth. With Downtown Orlando emerging as an 18-hour city, more and more retailers are being drawn to the urban core. The residential population of Orlando is approx. 18,000 with approx. 80,000 daytime workers. This growth in residential population has postured downtown to be a location where national retailers want to have a presence. A lot of exciting additions to the city center including UCF’s new campus and Creative Village.
Did you know Orlando welcomes 70 million tourists per year? Not only is Orlando the theme park mecca, but it is also emerging as a top metro for a job and population growth. This growth has led to the region landing on the radar as one of the top spots in Florida for retail and restaurant expansion. Orlando remains to be an interesting city, one of which is very diverse in its retail market. Lots of new retail space under construction, approx. 1.0M SF and a local vacancy rate of approx. 4.3%. Shopping Centers located in tourist corridors are heavily focused on experiential, dining and entertainment use to compete for the last tourism dollar after visitors enjoyed their days at the amusement parks.
About The Author: Jeff Dervech
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