Pop-up shop trend on the rise in South Florida

With retail vacancies on the rise, pop-up shops are also popping up with increasing frequency in South Florida as the holiday season approaches, real estate professionals and retailers told the Miami Herald. Toys “R” Us is opening 600 Toys R Us Express stores for the season, including around six in South Florida. The company is also planning an FAO Schwarz pop-up at the Aventura Mall. While South Florida’s indoor malls actually have relatively low vacancy rates compared to some other markets, strip malls are a different story, and temporary tenants like Spirit Halloween are taking advantage of the vacancies with nine pop-ups planned for Miami-Dade and Broward counties this season. Pop-up tenants typically pay drastically reduced rents in exchange for a provision that allows landlords to clear out the space on very short notice, so the trend is often a win-win: businesses make extra cash and boost their exposure, while landlords generate at least some income from their vacant properties. [Miami Herald]