The low availability of existing retail space due to limited construction activity over the past decade has buoyed retail rent gains and values in South Florida. Although this narrative fits nicely with the evolution of the three main South Florida markets of Miami, Broward and Palm Beach, the St. Lucie market also represents a prime example of this trend.
Demographic gains are strong boost for St. Lucie retail space
Population in prime spending years sees significant growth since 2019
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