3/1/2010

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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