Across the nation, retail is under siege from e-commerce, but the trends are a little different in South Florida.
About 80 people attended “Breaking Ground with Brian Bandell: The Evolution of Retail” panel held Nov. 15 at the Business Journal office in Brickell, where panelists shared their insights on South Florida’s thriving real estate retail market.
- Jeffrey Evans, senior director of retail leasing at Comras Co.
- Art Falcone, managing principal of Encore Capital Management
- Angie Kenyon, VP of real estate for BBX Capital and MOD Pizza’s South Florida franchise
- Keith Koenig, president of City Furniture
- Paul Puma, president of Kimco Realty Corp.’s southern region
There hasn’t been a widespread closing of malls and traditional shopping centers in South Florida like in other markets. Still, the impact of e-commerce has been felt with both national and local tenants closing locations. Developers are repurposing older shopping centers to meet the needs of the modern consumer, while retailers and restaurants adapt to rapidly changing expectations.
For example, Encore is transforming the former Fashion Mall in Plantation into a mixed-use project called Plantation Walk. Comras Co. is working with its partners and clients to redevelop the Shops at Sunset Place, while finding new tenants for Las Olas Boulevard in Fort Lauderdale.
South Florida is one of the few markets in the country where the retail market is so strong that developers are actually building more space. Kimco Realty has Dania Pointe under construction in Dania Beach and Encore is co-developing Miami Worldcenter. Both of those are mixed-use projects with residential, hospitality, entertainment and office – keeping with the trend of how retail is evolving.
Here are five insights the panelists had on the evolution of retail.
Read the Full Story HERE >>> Source: Breaking Ground with Brian Bandell: The Evolution of Retail – South Florida Business Journal