2020 Q3 Northeast Florida Retail Market Report

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The Jacksonville retail industry is shifting across the board due to the prolonged economic effects of COVID-19. This situation has caused vacancy levels to rise and asking rents to decrease throughout the retail sector. In response to this “new normal,” restaurants have reconfigured their dining floorplans to accommodate for social distancing, outdoor seating and pickup/delivery services. Department stores as well as other retailers are adjusting to the increasingly competitive ecommerce marketplace and doing what they can to withstand the economic turbulence. 

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2020 Q3 Northeast Florida Retail Market Report

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Related Experts

Christian Oldenburg

Managing Director, North Florida

Jacksonville

Christian Oldenburg is a dynamic commercial real estate executive with 15 years of experience and total transaction involvement in excess of $1 billion. As the Managing Director of Colliers International Northeast Florida, Christian is responsible for all aspects of Colliers’ operations in the North Florida region, with a focus on financial management, development of human capital and new business generation. Christian leads a team of 30 brokers and 15 support staff who are focused on advising clients who wish to sell, purchase or lease retail, office, medical, industrial, land and multifamily assets. Christian also collaborates with the firm’s Real Estate Management Services and Valuation and Advisory divisions on identifying and sourcing new business opportunities.


Christian’s real estate career began with Northmarq Capital as an Investment Analyst, a role in which he assisted in placing more than $350 million in debt and equity financing. He further developed his career with Regency Centers, where he held multiple financial and operational roles over his ten-year tenure culminating as Vice President of National Property Operations. Most recently Christian served as Senior Vice President of Block One Ventures – the real estate investment arm of a significant local family office. In that role, he oversaw all aspects of the company’s operations with a focus on ground-up development and asset management of land and multifamily assets valued around $300 million.

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Jason Ryals

Executive Director

Jacksonville

Jason has over 16 years of experience in commercial real estate in Northeast Florida. He has completed over $400,000,000 in transactions in his career. His brokerage activities are focused on Tenant representation and expansion for National and Regional restaurant and retail chains, outparcel marketing and asset disposition.

Jason has extensive knowledge of the North Florida market, along with strong relationships with the dominant landlords and development companies in the region

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Gary Montour

Senior Director

Jacksonville

Gary Montour joined Colliers International in 1983 and has consistently been one of North Florida’s Top Producing Commercial Brokers. He completes 60 to 80 transactions per year and has generated more than $145 million in sales and leasing over the past five years.

Gary has closed deals ranging from small leases, through medium and large sales and lease transactions, to the largest of investment sales. His $30 million multi-property investment deal in 2007 was the biggest among 10,000 Colliers brokers.

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Nancy Sumner

Senior Director

Jacksonville

I most recently served as a North Florida market Partner and Senior Leasing Advisor for The Shopping Center Group, where I  managed 40 properties totaling more than 7.5 million square feet of retail space.  I have  over 12 years’ experience in landlord representation and lease negotiations in retail services to grow Colliers International
Northeast Florida’s landlord services. I specialize in neighborhood shopping centers, ground-up, mix-use retail, grocery-anchored and redevelopment projects through a meticulous understanding of the surrounding trade areas giving landlords analysis of the voids within the submarket to attract new retailers.


 

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Katy Figg

Senior Director

Jacksonville

Prior to joining Colliers International Northeast Florida, I was a Director for Franklin Street Retail Services. In that role, I helped oversee a portfolio of more than 3.1 million square feet for national and regional clients.  I also specialized in Tenant Representation; retailers represented include Dollar Tree, Brixx Pizza, Scout & Molly, Grabbagreen, Honeybaked Ham, Cato Fashions, Pure Barre, Save A Lot, Tijuana Flats, Great Clips, Smoothie King, Hurricane Grill & Wings, Newks Express Cafe, Jimmy Johns Gourmet Sandwiches, Hibbett Sporting Goods, Panda Express, Retro Fitness & Phenix Salon among others. I am a former International Council of Shopping Centers Jacksonville Next Generation program Chair, and have now assumed the role of State Chair for the Next Gen program for 2018/19.  

 

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Karen Hong

Director

Jacksonville

AREA OF EXPERTISE

Specializing in third-party leasing for retail and site selection for regional and national tenants pursuing the Orlando, Miami, Tampa, and Jacksonville markets. I have worked with Top National Tenants such as Bento Café, Hungry Howie's Pizza, Bojangles, and Boost Mobile. I also focus on commercial retail investment sales within those Florida markets.

To date, I have overseen total sales transactions of over $20,000,000 and have leased over 140,00 square feet.

BUSINESS BACKGROUND

Having owned and operated many restaurant businesses, I often focus on restaurant sales. Bringing knowledge and the ability to speak fluent Mandarin Chinese gives me the capability to work with tenants spanning multiple industries and help them negotiate leases and prepare for acquisitions.

 

 

 

 

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Jason Hinson

Senior Associate

Jacksonville

Mr. Hinson has over 25 years of Commercial Real Estate Experience in the North Florida Market. Jason has a broad experience in leasing, selling and the development of properties in the disciplines of retail, office, industrial and land. He has focused the majority of his career in the Retail Market. Mr. Hinson’s brokerage activities comprise of both Tenant & Landlord representation for local, regional and national companies. Jason currently represents several Shopping Centers in Jacksonville and the surrounding areas.

 

He provides his clients with great insight and detailed information that helps minimize their time & efforts for each unique & particular situation

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Gina Kline

Associate

Jacksonville

Kline's commercial real estate adventures began over a decade ago. Specializing in the retail sector, her team focuses on tenant representation and asset disposition. A deep understanding of  research, marketing, GIS storytelling as well as a background in retail management, investment advisory service, and small business ownership, bring an entrepreneurial spirit of creativity and determination to her deal making. Proud to be part of the Gator Nation, she received a Bachelor of Science in Business Administration in 2010 from the University of Florida.  Go Gators!

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Robert Selton

Senior Executive Director

Jacksonville

Raised in a “real estate family” in Amelia Island, Florida, Robert W. Selton, III, graduated from Rollins College and shortly after began his promising Commercial Real Estate career. 

Early in his career, Bob acquired mentors in the industry who have helped him to become an effective contributor in the market. In his days at Colliers Dickinson (to be later named Colliers International), Bob positioned himself as an eager dealmaker ready to connect with his customers and guide them to achieve their desired results. 

Now, as a seasoned Commercial Real Estate Influencer, Bob has earned more than 40 industry awards and recognitions of achievement for his professionalism and tenacity in the market. Mr. Selton has consistently remained a top producer in Northeast Florida completing over 1,100 transactions in excess of $1.2 billion. Bob is currently one of the Top 10 Investment brokers in Colliers International. 

By focusing on his clients’ expectations, Bob provides the best solutions to achieve their individual goals and provide a big picture understanding of the market.

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