Anyone who sips a martini at CityPlace in West Palm Beach, BayWalk in St. Petersburg or Mall at Millenia in Orlando has a taste of retail shopping trends in Florida. The Florida mall is making way for the "lifestyle center," where consumers can stop for a cocktail as well as a movie. The trend isn't just for new shopping centers such as St. Johns Town Center in Jacksonville or the huge Destin Commons in the Panhandle. Traditional malls such as the Mall at Millenia are transforming themselves, too, with gathering spots like Blue Martini. Fort Myers' 40-year-old Edison Mall, the largest mall on the lower Gulf Coast, recently announced a 43,000-sq.-ft. "lifestyle component" that will begin construction this year.
 MALL TREND: More malls are adding lifestyle components like this Blue Martini. |
Indeed, a national deceleration in retail expansion has had little impact on Florida, which leads the nation in new shopping centers, says Michael Niemira, chief economist at the International Council of Shopping Centers in New York. "Florida in particular is a hot market, and one of those still growing very rapidly," Niemira says. But, he predicts that higher interest rates will slow even Florida's shopping center frenzy over the coming year.
Big chains like Target, however, are likely to continue expanding. Among the major retailers, look for new stores in "tertiary areas," says Marshall J. Emas, a partner in Shutts & Bowen's real estate department in Fort Lauderdale. Population growth in places such as Palatka and Brooksville is drawing the attention of major retailers such as Target, Kohl's and Lowe's. Emas says those clients are finding outlying areas attractive because of low land prices and the ability to put together large tracts, bringing a larger lifestyle component to anchor stores.
More and more, developers are tapping discount stores to anchor higher-end malls -- and vice versa. Sawgrass Mills, the sprawling outlet mall in Sunrise, is expanding with upscale tenants.
 TAMMY GIAIMO |
TAMMY GIAIMO
Owner, Jacobson's
Winter ParkWhen Tammy Giaimo decided to open a clothing boutique, she wanted immediate name recognition. "Tammy's Boutique wasn't going to cut it," she jokes. So she turned to an old favorite -- Jacobson's, a once-beloved department store chain that went bankrupt in 2002. Tammy and her husband, John Giaimo, who own Software Resources of Longwood, bought the Jacobson's name, along with its website (jacobsons.com), for $25,000 from the retailer's creditors. Now, their 11,000-sq.-ft. Winter Park store and website are particularly popular among former Jacobson's customers. The Giaimos are planning a second store, though they're not sure where yet.