“In the months ahead, investors may want to seek restaurants or convenience stores located near limited-service hotels,” says Bryn Merrey, regional manager of the Orlando office of Marcus & Millichap.
· Sluggish demand and slower leasing activity will underpin a 170 basis point increase in vacancy this year to 9.8 percent.
· Effective rents will drop 0.7 percent to $16.57 per square foot due to easing demand.
For a copy of the complete Orlando Retail Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.
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