Crossman & Company Releases ICSC 2010 Florida Retail Report

ORLANDO - Crossman & Company, one of the largest third party retail leasing and management firms in the Southeast, will be presenting the bi-annual ICSC Florida Retail Report at the Keynote Presentation, Monday Aug. 23 at 1 p.m. Crossman & Company has produced the report on behalf of ICSC for the past 15 years, and includes contributions from over 75 separate companies throughout the state.

“We have seen a return to stability in the market in the first half of 2010,” stated Justin Greider, the primary author of the report. “In nearly every market of the state we have seen the freefall of rents and occupancy leveling off, indicating we may have found the bottom of the market, though significant challenges still remain for owners and retailers alike.”

The report notes that rental rates for the entire state average $16.60 for mid-year 2010, down nearly 15 percent from the peak in the first quarter of 2008. Occupancy has leveled off at just over 89 percent, a decrease of about 6 percent from its peak in 2006.

“The outlook for the next 6-12 months is one of cautious optimism,” Greider added, “People throughout the state are very positive, but the recovery is going to be long and slow, and there is still a lot of over-valued product that has to work its way through the system.”
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To view the 2010 ICSC Florida Retail Report go to: http://crossmanco.com/assets/files/2010%20ICSC%20Florida%20Retail%20Report.pdf
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For more information, contact:
Justin M Greider, Senior Associate, Crossman & Company, ICSC Southern Division NextGen Chair, 407-581-6225; John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com; Molly Delahunty, Crossman & Company, 407-581-6220 mdelahunty@crossmanco.com; Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

About Crossman & Company: Headquartered in Orlando, Florida, Crossman & Company is a commercial real estate brokerage firm that specializes in the retail industry. Currently their portfolio under leasing and/or management exceeds 150 shopping centers throughout the Southeast US. Founded in 1990, Crossman & Company focuses solely on landlord representation and serves clients including Publix, PREIT, and GE. Please visit www.crossmanco.com, or call 407-423-5400 for more information.