The Real Deal Miami

South Florida falls in retail ranks

July 07, 2008 02:08PM

Marcus & Millichap’s 2008 National Retail Index dropped Fort Lauderdale and West Palm Beach 13 and 10 spots, respectively. The declines were blamed on the region’s faltering real estate market. In its ranking of 43 retail markets, Fort Lauderdale fell to No. 15 and West Palm Beach fell to No. 21. Miami moved up six spots to No. 14, and No. 3 in Marcus & Millichap’s list of metropolitan areas with the greatest expected 2008 asking rent growth, behind New York City and Seattle. The report said that while fewer retailers are expanding in Miami, leasing volume remains solid.