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South Florida

S. Florida sees retail occupancy drop

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Miami’s retail occupancy rate dropped slightly between the end of 2007 and the same period in 2008, according to the 2009 Florida Retail Report, which compared 2007 and 2008 data for 20 metropolitan areas in the state. The Miami area had a 94.3 percent retail occupancy rate at the end of 2008, down from 94.8 percent at the end of 2007. But Miami’s retail occupancy rate is still the highest in the state, the report said. Broward County saw the area’s largest drop in retail occupancy, with an occupancy rate that fell from 92.1 percent in mid-2008 to 89.7 percent by the end of the year.