Open Carry and Economic Risk for Florida Commercial Property Owners

Open Carry and Economic Risk for Florida Commercial Property Owners

By Karen E. Matroni, CSM

Open Carry in Florida: A Hidden Liability for Commercial Property Owners

Florida’s shift toward more permissive gun carry laws introduces a layer of risk that many property owners may not fully appreciate—especially for retail and shopping center landlords.

Combine that with looming economic uncertainty, rising vacancies, tenant bankruptcies, and uncollectable rent, and the operating environment for commercial properties is becoming more volatile than ever.

As you evaluate your risk exposure, consider engaging a third-party property inspection and risk assessment to identify liabilities before they become legal or financial liabilities.

Open Carry & Premises Liability: What Property Owners Should Know

Florida allows open carry under certain conditions, and more retail tenants (including major chains) permit it on their premises.

This trend increases the potential for incidents that must be addressed under premises liability law.

In Florida, a property owner owes a duty of care to visitors, customers, and tenants to maintain a reasonably safe environment—and in some cases that includes safeguarding against foreseeable criminal acts like shootings. (SteinLaw.com)

When a shooting or violence occurs at a retail or mixed-use property, plaintiffs often examine whether the property owner should have reasonably anticipated such an event and taken preventive security steps (e.g., lighting, surveillance, access control, security patrols). (SteinLaw.com)

Legal and insurance verdicts underscore the risk:

  • In Florida, a property owner was hit with a $3.2 million verdict in a tenant-shooting case; the insurer later fought coverage based on notice or exclusion arguments. (Port St. Lucie Talks)
  • A Florida lodge shooting led to litigation involving claims of **“bad-faith” insurance behavior** when insurers allegedly failed to properly defend the insured property owner. (WUSF)
  • In a separate Florida case, a bar brawl turned deadly, resulting in a multimillion-dollar negligent security verdict against the property owner. (Insurance News | InsuranceNewsNet)

These examples highlight how gun-related incidents can escalate from tragic events to catastrophic liability for property owners.

One complicating factor is insurance policy language. Some general liability or “assault & battery” exclusions may try to limit coverage for gun-related incidents.

However, courts do not always allow carriers to disclaim coverage—especially when the underlying allegations include **negligence or foreseeability** rather than intentional wrongdoing. (Butler Weihmuller Katz Craig LLP)

In short: a property owner who fails to assess or mitigate firearm-related risk may expose their asset and net worth to lawsuits, uninsured portions of liability, and elevated insurance premiums.

Economic Risks: The Credit Squeeze & Real Estate Pressure

Amid increasing liability risk, property owners must also navigate a tougher economic environment. Consider these headwinds:

1. Credit and Lending Pressure / Credit Crisis Risk

Many analysts now view commercial real estate (CRE) as a potential stress point for broader credit markets.

In a Bank of America survey, about 34% of fund managers ranked U.S. commercial real estate as the most likely source of a future credit event. (MarketWatch) Deloitte’s 2026 real estate outlook echoes growing concern over capital availability and credit tightening. (Deloitte)

Tightening credit means refinancing becomes more difficult, and fewer buyers are available for assets in distress—reducing liquidity in the marketplace.

2. Vacancy Pressure & Tenant Bankruptcies

Rising interest rates and weaker consumer demand are already putting pressure on tenants, especially in discretionary retail categories.

Corporate bankruptcies spiked in 2024, reaching their highest level since 2010. (Financial Times) Real estate-related companies lead as prime candidates for distress filings. (Epiq Legal Solutions)

Retail forecasts include the possibility of 12–15 million square feet of additional vacant space entering the market, although backfill demand may soften the impact. (Retail Specialists)

Meanwhile, the broader snapshot for retail and office markets is sobering: commercial vacancy rates have climbed (for example, some reports peg a 7.4% vacancy rate in recent quarters). (Old Republic Title)

3. Revenue and Lease Risk

With tenant defaults, delayed rent payments, and shrinking margins, properties may see declining net operating income (NOI).

That places stress on debt service coverage ratios and valuation multiples.

The fall in property values over 2022–2024 was historic in that it occurred outside a textbook recession. (AEW)

In this environment, owners need more rigorous operational controls, risk mitigation, and forward-looking leasing strategies.

Why Now Is the Time to Act

Failure to audit your property’s risk profile—especially around firearm exposure—can lead to catastrophic financial consequences.

Meanwhile, economic turbulence multiplies the downside when operations are too lean or reactive.

You need a partner who not only identifies vulnerabilities but helps you stabilize your assets, maximize occupancy, and navigate renewals. That’s where Prime Site Management can help.

Partner with Prime Site Management

Let us conduct a comprehensive risk assessment and property inspection across your portfolio—starting with your flagship property.

We’ll deliver a detailed report capturing:

  • Security gaps and liability hot-spots
  • Lighting, access, and sight-line deficiencies
  • Tenant build-out vulnerabilities
  • Operational and lease risk indicators

From there, we can architect a remediation and stabilization plan.

And if you choose to entrust us with property management and leasing, I’ll offer you:

  • Up to 1% discount on management fees
  • Competitive, cost-efficient leasing commissions tailored to your NOI

In times of volatility, consistency is your greatest asset. Let Prime Site Management help you protect it.

Sources & References

  • “Florida Shootings and Premises Liability,” SteinLaw. SteinLaw.com
  • “Insurance Issues After Mass Shooting Occurrences,” BaileyCav. Bailey Cavalieri
  • “Florida $3.2M Apartment Shooting Verdict,” Port St. Lucie Talk. Port St. Lucie Talks
  • “Insurer Faces Bad-Faith Lawsuit Over Florida Shooting,” WUSF. WUSF
  • “Florida negligent security verdict in bar brawl,” InsuranceNewsNet / Lexology. Insurance News | InsuranceNewsNet
  • “2026 Commercial Real Estate Outlook,” Deloitte. Deloitte
  • “U.S. Commercial Real Estate Seen as Potential Credit Crisis,” MarketWatch (Survey). MarketWatch
  • “U.S. Corporate Bankruptcies Hit 14-Year High,” Financial Times. Financial Times
  • “Commercial Bankruptcies on the Rise,” Epiq Global. Epiq Legal Solutions
  • “12–15 Million SF Added Vacancy,” Retail Specialists Forecast. Retail Specialists
  • “Commercial Vacancy & Rent Trends Q3 2025,” Old Republic Title. Old Republic Title
  • “Commercial Property Values Declines 2022–2024,” AEW / Research Perspective. AEW