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Market Report

Orlando Retail Market Report

4Q 2023

Growing Resident Base Joins Tourism in Pushing
Retail Demand Ahead of Long-Term Supply

In-migration warrants necessity retailer leases. By the end of 2023, Orlando will receive the greatest number of residents through in-migration of any major Florida metro, welcoming roughly 49,300 new citizens. The growing local population will support demand for necessity goods provided by retailers, such as grocers and wholesale stores. Some of the largest leases signed in the first nine months of the year featured tenants catering to residents rather than tourists, including Mavis Tire, Crush Yard Pickleball & Restaurant, and High Point Climbing and Fitness. The increasing prevalence of these tenants will supplement existing tourism-driven retail space demand. 

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