Retail vacancies creep up across South Florida

by Francisco Alvarado

Across South Florida, retail landlords experienced more tenants moving out of spaces than tenants moving in during the second quarter, according to a recent Colliers report. As a result, the vacancy rate in the tri-county region took a slight hit and average asking rents in Miami-Dade and Palm Beach counties tumbled a bit.  The high cost of construction is providing some silver lining for existing retail property owners. South Florida is seeing a slowdown in new retail development with 1.4 million square feet on tap for this year compared to 3.2 million in 2020, Colliers found. Although, retail landlords are […]This article originally appeared on The Real Deal. Click here to read the full story.

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