Flagler Village rendering, Fort Lauderdale, FL
FORT LAUDERDALE, FL -- An influx of residents and increased
spending will play a large factor in improving the county’s retail market this
year, according to Marcus & Millichap’s second-quarter report.
Retail sales jumped
in the past 12 months, attracting retailers, especially in high-traffic
locations, such as the Federal Highway Corridor where Flagler Village is
under way.
The mixed-use
redevelopment will include retail space among more than 700 apartment units in
an urban village setting. Another 390 residential units are under way just
blocks away. Residential construction has retailers preparing for the new
households.
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| The Plaza at Coral Springs, FL |
Fresh Market, for example, recently opened across the
street from Flagler Village. Residential construction is also surging in areas
such as Coconut Creek, where more than 600 housing units are under way.
In addition, a
casino-hotel has been proposed at the Seminole Casino Coconut Creek,
which would boost jobs, traffic and tourism. In nearby Coral Springs, the
redevelopment of the Plaza at Coral Springs II will add BJ’s Wholesale
Club and Dick’s Sporting Goods to its tenant roster. Escalating space demand
this year will allow operators to implement the largest rent gains since the
recession began.
For a complete copy of the company’s news release, please
contact:
John Chang
Vice President, Research Services
(602) 687-6700
Fort Lauderdale Office:
Gregory Matus
Vice President, Regional Manager
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