Markets in the Southeast have particularly strong demographic trends, including sunny Orlando, according to Ten-X, which named it a top “buy” market.
Orlando leads the nation in job growth, while its population growth is among the fastest in the country. Tourism and job market growth in leisure and hospitality are creating new households.
“Orlando is a booming market. There are cranes everywhere and you’ve got a lot of people moving there,” Holmes notes. “We expect to see a lot more investor interest in retail in that area.”
Marcus & Millichap reported the retail vacancy rate in the city was expected to fall to around 4.6 percent at year-end 2019 and retail rents are expected to rise.
Orlando recorded $844 million in retail investments sales in 2019, RCA reported.