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Fort Myers / Naples, FL : Retail Snapshot - Q2 2014

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Fort Myers / Naples, FL : Retail Snapshot - Q2 2014

Second quarter showed stability in the Fort Myers/Naples retail market with a vacancy rate of 7.3%-- down just slightly from 7.4% in Q1. Taxable sales increased 8% and tourism tax revenues increased 28% from March 2013 to March 2014 according to recent data. Passenger traffic at the three Southwest Florida airports increased 10% year over year (April 2013 vs. April 2014).

Nationally, the unemployment rate declined to 6.1 % in June 2014 down from 6.3% in May, and down from 7.5% in June 2013. The state of Florida’s unemployment rate edged upward to 6.3% in May 2014 from 6.2% in April 2014. On a county basis here in Southwest Florida, Lee County's unemployment rate increased to 6.1% in May from 5.8% in April and Collier County's rate also ticked upwards to 5.9% in May from 5.5% in April.

Source : Cushman & Wakefield

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