Challenges Ahead, Opportunities Will Arise
The first quarter of 2020 will forever be marked as one of the most dynamic quarters in history for the retail market throughout Central Florida. As the 2020 year began, activity throughout (sales, leasing, construction) remained brisk, with submarkets like the Tourist Corridor, Winter Park and Downtown experiencing increased demand and activity. The food and beverage segment of retail was the driving force behind much of the activity. Interest rates were at near all-time lows providing cost-effective financing to help bolster and carry on the 10-year record growth experienced throughout Orlando. Unemployment in the region, the lowest in recent history and well below the national average, was championed by many in the local market.