Ripco, the retail real estate services firm that recently bought a brokerage in Miami, sees ample opportunity to grow even further in the Sunshine State, according to its chief executive.
Florida's strong population gains, coupled with the decision by several financial firms to relocate to or open new offices in the state, make it the ideal place for New York City-based Ripco to focus on right now, CEO Peter Ripka told CoStar News.
"It's really Florida where we're looking to expand," Ripka said. "There's 20 million, 22 million people in Florida. And I would say the trade area in New York City, in metro New York is 18, 19 million. So we view Florida...from a population standpoint as being similar to our trade area. And there are many common owners, many common retailers."
Ripka and Todd Cooper founded Ripco, a firm with a name that combines the first letters of each of their surnames, in 1991. This spring, Ripco acquired Acre, a Miami-based retail leasing and tenant representation brokerage. Ripco now has 150 employees in eight offices.
Watch the video to learn more about the firm's expansion plans and how it helps retailers find retail space in tight markets.