Orlando’s downtown population has grown at a faster rate than other downtown metro areas in Florida, 34.2 percent. And while growth was impressive in Tampa, Miami and Jacksonville, Orlando’s was twice as strong.
That’s according to the 2014 FLORIDA RETAIL REPORT, citing U.S. Census data from 2000 to 2012.
A recovering economy, citycenter growth across the state, along with record tourism, has impacted retail spending in a big
way, the study revealed. During the 12-month period ending June 2014, sales totaled $6.1 billion, 8 percent
higher than the total as of June 2013. And there were no signs of slowing. During the second quarter, retail sales were up 9 percent compared to Q1. Retail is growing Metro Orlando’s economy.
With the study concluding that Metro Orlando has one of the fastest-growing economies in Florida, a mega transaction in August serves as proof. MetLife Inc. spent more than $116 million to acquire The Loop, a 435,000-square-foot outdoor retail center in Kissimmee— described by one market insider as “one of the highest quality retail investment opportunities in the Southeast.”