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Category: Shopping Centers Tags: Florida, Panhandle, Shopping centers

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Multi-tenant retail demand has strengthened in Florida’s panhandle due to improving market conditions, elevated leasing trends, and overall increased transactions. Gainesville and Tallahassee each hold world-ranked universities, according to the U.S. News & World Report top 100, the University of Florida and Florida State University, respectively, which help drive the local economy. Following national trends, leasing in the area is driven by discount retailers, quick-service restaurants, grocers, and fitness concepts. Rent growth is pronounced throughout the panhandle, and Jacksonville leads the pack with 6.9 percent growth in the last 12 months. Transactions are increasing across the board, thanks to shopping center trades surging volume.

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