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Take Chris Tillett, CEO of boutique makeupp studio , who moved from Park Avenue to Maitland last summer due to highrent (he was payin g $41 per square foot in Winter Park), less foot traffi and lack of city involvement. Tillett’s exit and that of othet former Park Avenue retailers have prompted both the city of Winted Park and landlords to try to addressthe “We saw businesses leaving and an increasinvg animosity between retailers and so this was the perfect time to talk it said Sherry Gutch, community redevelopment director for Winte r Park. In fact, the area’sz vacancy rate has nearly doublesd in the past 12 jumping to 11 percentfrom 6.
5 percenyt a year ago, said Colliers Arnold in a real estate services firm. In addition, the averagde rental rate is $25.64 per squard foot, down 5.4 percent from $27.1 per square foot a year ago.
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