Miami is considered a center for commerce, culture, and entertainment. For almost two decades, the Port of Miami has been known as the cruise capital of the world, contributing to the extreme amount of tourism attraction. According to Forbes, Miami is one of the best places for business and careers. Since 2018, job growth has increased 1.9 percent, and unemployment remains below the national average at 3.5 percent. Taking these accolades into consideration, Miami’s retail market held up relatively well during COVID-19. The market has seen positive signs of recovery, with strong population growth and the return of tourism helping with retail’s bounceback. On average, the retail vacancy rate hovers around four percent, and rent growth has increased 1.3 percent over a 12 month period. The Miami retail market is also experiencing a heightened construction push, with 2.5 million square feet currently under construction, representing two percent of the market’s existing retail inventory. Sales volume has also been increasing in the market as investors search for properties located in tax-free states along the Sunbelt.