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lorida's commercial real estate sector is experiencing a surge in retail activity, driven by the influx of high-earning professionals relocating to the state since the pandemic. This migration has transformed cities like West Palm Beach into year-round business and lifestyle hubs.

    According to Ken Himmel, president of Related Ross, the growing demand for retail space can be attributed to the deliberate and sustained migration of financial executives, tech leaders, and high-net-worth individuals to South Florida. In West Palm Beach, retail vacancies are virtually nonexistent, with occupancy rates nearing all-time highs.

    The integrated development model is playing a crucial role in sustaining this demand, as top investment firms and institutions open offices nearby, bringing with them a highly educated and well-compensated population seeking elevated lifestyle experiences. This built-in foot traffic has helped maintain retail vacancy rates below 3%, even as additional square footage comes online.

    Florida's favorable tax structure, population growth, and cost of living advantages continue to attract both individuals and businesses, making the state "highly profitable" for investors. As financial services and innovation hubs take root in cities like West Palm Beach, retail is rising in parallel, fueling a self-sustaining cycle of growth and demand.

    Retail momentum is building across the state, with companies like Foot Locker relocating from New York City to St. Petersburg, and longtime Florida staples like Publix expanding their presence, including a new 50,000-square-foot supermarket in Panama City Beach.