Florida retail shows signs of stabilization

03/1/2010 | St. Petersburg Times (Fla.)

The oversupply of retail space in Florida's market appears to have peaked, according to an International Council of Shopping Centers report. Retail rents are still on the decline -- to $15 per square foot from $16.53 -- but they are beginning to stabilize. "Last year's volatility has settled out, and we're seeing recovery in some places," said Justin Greider, with Crossman & Co. Greider compiled the report for the ICSC. "We measure 'asking rents,' and landlords are now being more realistic than they had been."

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St. Petersburg Times (Fla.)

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