The Southwest Florida retail market remained strong through the second half of 2016. Throughout the year, the restaurant industry drove the market with several new restaurants entering or expanding throughout the metro area. A landlord’s market has taken hold with minimal vacancy throughout Southwest Florida, especially among Class A properties.
Leasing activity continued to rise in all submarkets. The Southwest Florida economy remains robust, boasting both job growth and abundant new and existing home sales, alongside a thriving tourism industry. However, the retail market has seen a slowdown of activity in Class B and C space, primarily because these properties are either fully leased or obsolete for tenant occupancy.
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