What They're Saying: CoStar Group, JLL

Despite store closings that are occurring throughout Florida and the U.S. that many contend highlights a “retail apocalypse,” data shows store occupancy and rental rate growth has been steady and in line with other sectors this economic cycle. In many Gulf Coast submarkets, especially ones where population has waxed like Tampa, Naples and Sarasota, retail growth has been solid since 2015.

The Sunshine State in particular, thanks to a surge in population that has catapulted Florida to become the third most populous state, has been a boon for retail landlords. Over the past year, Florida has been home to four of the five fastest-growing areas as measured by rent growth.