Statistics

Charting Change: Final Analysis of Net Store Change from 2022 to 2023 /  by Guest User

The final chart in the Charting Change series outlines changes in (GLA) for companies with 15+ locations in Florida across various retail sectors between 2022 and 2023.

The GLA absorption in 2022 was significant at 3.8 million square feet, but 2023 was drastically lower at 0.7 million square feet, a decrease of 81% primarily caused by Bed Bath & Beyond and Tuesday Morning exiting the market.

“... a decrease of 81% primarily caused by Bed Bath & Beyond and Tuesday Morning exiting the market. ”

Notable Highlights

  • Grocery / Warehouse Club / Liquor sector had the highest increase in GLA.

  • Home Furnishings / Appliance sector experienced the largest decrease in GLA.

  • Discount, Apparel, Fitness, and Home Improvement / Hardware saw significant increases in GLA.

  • The Pharmacy / Beauty Supply sector and the Office Supply sector both experienced declines in GLA across the observed years.

Florida Box Openings & Closings: March 2024 /  by Guest User

Openings: 27 stores

Ace Hardware: 1
Barnes & Noble: 1
Burlington: 3
CVS: 2
Dollar General: 3
Dollar Tree: 5
Five Below: 1
Key Food: 3
Michaels: 2
Pet Supermarket: 1
Publix: 3
Ross: 1
Target: 1

Closings: 18 stores

Best Buy: 1
Bravo Supermarket : 1
Burlington: 1
CVS: 3
Family Dollar: 3
Habitat for Humanity: 1
Kirkland’s: 1
Office Depot: 1
Retro Fitness: 1
Save-A-Lot: 1
Staples: 1
Walgreens: 3

Texas Box Openings & Closings: March 2024 /  by Guest User

Openings: 49 stores

Ace Hardware: 3
At Home: 1
Bealls: 1
Dollar General: 7
Dollar Tree: 10
EOS Fitness: 1
Family Dollar: 3
Five Below: 5
H-E-B: 2
Hobby Lobby: 1
Homesense: 1
Sprouts Farmers Market: 1
Walgreens: 13

Closings: 20 stores

Chuck E Cheese: 1
CVS: 1
Family Dollar: 8
Five Below: 1
Food Town: 1
LA Fitness: 1
Office Depot: 1
Office Max: 1
Old Navy: 1
Pet Supermarket: 1
Petco: 1
True Value Hardware: 1
Walgreens: 1

South Box Openings & Closings: March 2024 /  by Guest User

South includes: AL, GA, NC, SC, TN, VA

Openings: 62 stores

Academy Sports: 1
Ace Hardware: 5
Aldi: 4
Bargain Hunt: 1
Barnes & Noble: 1
Burlington: 2
Dick’s Sporting Goods: 1
Dollar General: 17
Dollar Tree: 8
Family Dollar: 1
Farmers Home Furniture: 1
Five Below: 4
Golf Galaxy: 1
Hobby Lobby: 1
HomeGoods: 2
Life Time Fitness: 1
Marshalls: 1
Nordstrom Rack: 2
Ollie’s Bargain Outlet: 1
Planet Fitness: 1
Publix: 2
Ross: 1
Sky Zone Trampoline Park: 1
Tractor Supply: 1
True Value Hardware: 1

Openings: 38 stores

Bargain Hunt: 1
Best Buy: 1
Burlington: 2
CVS: 1
Dick’s Sporting Goods: 1
Dollar General: 4
Family Dollar: 8
HomeGoods: 1
Kirkland’s: 1
Office Depot: 1
Office Max: 1
Rooms To Go: 1
Staples: 1
True Value Hardware: 7
Walgreens: 7

Florida Box Openings & Closings: February 2024 /  by Guest User

Openings: 26 stores

Ace Hardware: 1
Aldi: 1
Barnes & Noble: 1
Burlington: 1
Costco: 1
dd’s Discounts: 2
Dollar General: 6
Dollar Tree: 2
EOS Fitness: 1
Five Below: 1
GFS Marketplace: 1
Habitat for Humanity: 1
Pet Supplies Plus: 1
Publix: 5
Whole Foods: 1

Closings: 17 stores

Badcock Furniture: 1
Big Lots: 1
Citi Trends: 1
CVS: 1
Dollar General: 3
DSW Shoe Warehouse: 1
Family Dollar: 1
Greenwise: 1
Habitat for Humanity: 1
Kirkland’s: 1
Old Navy: 1
Party City: 1
Publix: 2
Sears Appliance: 1

Texas Box Openings & Closings: February 2024 /  by Guest User

Openings: 41 stores

Ace Hardware: 2
Blink Fitness: 1
Burlington: 3
dd’s Discounts: 3
Dollar General: 12
Dollar Tree: 10
Family Dollar: 1
Five Below: 3
H-E-B: 1
Home Depot: 1
IKEA : 1
Pet Supplies Plus: 1
Tom Thumb: 1
Tractor Supply: 1

Closings: 19 stores

Albertsons : 1
Barnes & Noble: 1
Bealls: 1
Big Lots: 3
Burlington: 3
CVS: 1
Dollar General: 1
Family Dollar: 1
Five Below: 1
Kirkland’s: 1
LA Fitness: 1
Randalls Supermarket: 1
Save-A-Lot: 2
Tom Thumb: 1

South Box Openings & Closings: February 2024 /  by Guest User

South includes: AL, GA, NC, SC, TN, VA

Openings: 53 stores

Ace Hardware: 1
Burlington: 2
Compare Foods: 1
Dollar General: 24
Dollar Tree: 7
Electronic Express: 1
Family Dollar: 7
Five Below: 2
Habitat for Humanity: 1
Harbor Freight Tools USA: 1
HomeGoods: 1
La-Z-Boy: 1
Pet Supplies Plus: 1
PETsMART: 1
Planet Fitness: 1
Walgreens: 1

Openings: 35 stores

Bealls: 1
Big Lots: 4
Burlington: 1
CVS: 1
Dollar General: 6
Electronic Express: 1
Family Dollar: 4
Gabe’s Discount: 1
Habitat for Humanity: 3
Jo-Ann Fabric: 1
Kirkland’s: 1
Lidl: 1
Old Time Pottery: 1
Party City: 1
Petco: 2
Staples: 1
Total Wine & More: 1
True Value Hardware: 1
Walgreens: 3

Florida Retail Property Sales Plunge 65% in 2023, Cap Rates Surge by 120 bps /  by Guest User

In a stark turn of events, Florida's retail property market experienced a substantial downturn in 2023, witnessing a staggering 65% plummet in sales volume compared to the previous year. Major metropolitan areas saw transaction volumes dwindle to just $1.0 billion across 28 sales, marking a stark contrast to the record-breaking $3.0 billion in sales seen in 2022.

Notably, prices in 2023 tumbled by 12% compared to the previous year. The average capitalization rate paid in 2023 stood at 6.75%, signaling a significant 20% decrease in value for asset sales over $15 million. Amid these challenging circumstances, investors like Woolbright anticipate a turnaround in 2024, with hopes pinned on the Federal Reserve's potential interest rate cuts to reignite the retail property market.

South Major Retail Developments 2023-2024 /  by Guest User

South Markets include: Atlanta, Nashville, Charlotte, and Raleigh/Durham

The stark contrast between the mere three major retail developments anticipated in 2024 underscores a profound transformation within the realm of commercial real estate. This notable disproportion serves as a poignant indicator of shifting market dynamics and consumer preferences, reshaping the trajectory of the industry.