Are brick-and-mortar stores on the brink of extinction in South Florida?
No, but bad retail is, said Beth Azor of the Weston-based Azor Advisory Services.
Retail vacancy rates in Miami are at 6.4%, lower than the national average of 10%. As shops and malls across the country shutter, local luxury shopping centers report an uptick in sales and continue to grow, according to a Wall Street Journal report. But with online sales expected to grow, what does the future of retail look like in South Florida?
Azor, a commercial real estate investor and broker in South Florida for 34 years, shared her insights on the market via email for Re|source.
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Read other articles by Beth:
What To Do When You Can’t Lease Space
How Do You Compete Against Much Lower Rent
Maximizing Renewals
How To Find Spaces That Are Not Yet On The Market
