Florida retail was overbuilt more than other markets so there will not be a lot of new retail strip center construction in Florida for a while until the current supply of vacant space has been absorbed. There will continue to be construction of a limited amount of retail on very good sites, such as CVS stores, fast food, Family Dollar stores, etc. If you can get a good deal on a great site, and have patience, you could buy some great sites. However, retail is constantly changing and a great site now, may not be a great site in 5 years, so be careful. If you are interested in a certain market, hire a local commercial real estate agent in that market to advise you to make the right deals. www.SIOR.com is a good source for top level commercial brokers nationally and internationally.
Alterra Real Estate Advisors
May 19, 2010