The Jacksonville market is thriving as consumers eagerly returned to in-person retail experiences over the course of 2021. North Florida residents seem to be enjoying a healthy consumer confidence for spending these days, especially in the dining and entertainment sectors. This is no surprise given the healthy fundamentals we are seeing in the region. Not only does Jacksonville have the lowest unemployment rate in the state, but St. Johns County ranks as the wealthiest county in Florida, per average household income.
As a result, the market continues to attract numerous new-to market tenants, while existing retailers are seeking to expand. From service-based retail and quick-service dining to fitness centers, boutique shops and discount retail, there are a wide variety of tenants seeking space in the Jacksonville market. Even some big box stores that have successfully pivoted their real estate strategies to accommodate evolving consumer habits are looking for new locations in the market, although often at smaller square footages.
View or download Franklin Street’s full Q4-21 report on the Jacksonville Retail Market for key stats, insights and predictions.