Electronics retailer hhgregg, which began a South Florida foray with a 23,423-square-foot lease at Westland Promenade in Hialeah in October, recently announced a plan to expand with five new stores in Broward and Palm Beach counties, taking advantage of some of the Circuit City locations that will be coming available.
Why just Broward and Palm Beach? “There’s a lot more long space available in Broward and Palm Beach than there is in Miami,” said Paco Diaz, senior vice president with CB Richard Ellis in Miami. “It’s a lot cheaper — I would say another 10 to 15 percent.”
According to Chris Macke, senior real estate strategist at real estate research firm CoStar, rates in Miami-Dade are around $24 per square foot generally, they are closer to $18.50 in Palm Beach and just $17.60 in Broward.
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