A new report shows the area is on the top of the market for retail investment. Investors poured nearly $690 million into the Orlando area retail market last year and may invest much more for the coming years.
Initially, Orlando was thought of as many as a tourist town. However, they have shaken that image with bigger retail projects. Some of these projects includes planned residential developments and community centers.
Studies also show that the average retail rental rate in Orlando last year hit a record high of $21.26 per square foot. The report attributes to a healthy local economy and anticipated growth in the high-end retail market over the next several years.
Experts are predicting that new businesses moving to the area this year will generate more than 1,000 jobs over the next six months. The population growth is expected to surpass 250,000 in the next five years to more than two million.
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