Franklin Street’s Carrie Smith, Senior Vice President of Retail Services, recently chatted with Jacksonville Daily Record on how retailers that emphasize convenience are performing the best in the Jacksonville and North Florida markets, which is the direct result of evolving customer preferences.
Land prices and rental rates for retail in Jacksonville have never been higher. Construction costs and supplies have never been more expensive or more difficult to obtain. And labor shortages remain an issue nationwide.
However, from a commercial real estate perspective, the retail market is incredibly active and competitive within these four categories and many others as well.
What this tell us is that despite inflation and other economic headwinds, consumers in Jacksonville haven’t stopped spending their money at brick-and-mortar stores and restaurants – especially the ones that provide convenience for today’s consumer.
— Jaxdailyrecord.com
