With our stores Austin and Kansas City, we cannot wait for our guests across the Midwest to experience Modern Market Eatery. We are excited to be part of the growth and development of the brand!
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Del Taco is an American Mexican inspired restaurant with locations predominantly in the Southern and Western parts of the country. Del Taco has approximately 600 locations in 16 states. The restaurants are situated in high traffic areas, which makes them highly sought-after properties. Locations are typically 2,100 square feet and would be easy to backfill if Del Taco were to vacate the property. Del Taco recently debuted its first ever drive-through only design in New Mexico. The design allows them to reduce the overall footprint, which creates more flexibility in real estate, as well as helping reduce total buildout costs. This new Fresh Flex concept will allow Del Taco to accelerate the growth of their brand – and may prove very beneficial for buyers and sellers of retail real estate. The NNN lease term is usually 20 years with attractive rental escalations of 10% every five years. For buyers and sellers of retail real estate assets, knowing which companies are in a growth phase and how their real estate requirements evolve is a crucial step to wise investing. Check out NNNTrends.com, where investors can access continuously updated national cap rates, comparable sales, and consumer traffic for dozens of retail net lease tenants! #DelTaco #CRE #RestaurantNews #FastFood #RetailRealEstate
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Restaurant Practice Leader - Houston @ CBRE | Restaurant Real Estate | Restaurateur to Tenant Representation | Co-Founder: Peli Peli Restaurants | HBJ 40 Under 40 | EY Entrepreneur OTY Finalist | MCHS Wall of Honor
It is harder to run a profitable restaurant today than it was 10 years ago. Everything is higher now: food costs, labor costs and especially rents. Combine that with more restaurants opening than ever before and the difficulty of consistently staying in front of your customer. Appreciate the inclusion Maddy McCarty! Read the full article here: https://lnkd.in/gAkzu2e9
Houston’s Retail Success Puts ‘More Shiny Objects’ In Front Of Consumers
bisnow.com
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Wondering how long it will be before the dine-in experience is removed from new construction QSR's? Not long... Smaller sites, smaller buildings, less staff needed, and quicker times in and out, are all contributing to the move away from dining-in experiences. #retailrealestate #retail #fishy
Captain D's opens 3rd Express prototype
fastcasual.com
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Here's more on which restaurant chains are in talks for the new project.
New project with restaurant, retail space in works for Four Corners
bizjournals.com
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CRE research professional and head of a national commercial real estate research platform for Newmark in Canada providing thought leadership, operational excellence, team building and market insights
If you grew up with a Boston Pizza International Inc. in your town—which, given its 60-year tenure in Canada, you probably did — you might remember its distinctive roof and familiar menu of pizzas and pastas, reported Report On Business (ROB) Magazine. "For most of its history, the casual dining chain followed a reliable blueprint for its locations — a sprawling, 6,400 square foot standalone restaurant, purpose-built from the ground up and complete with a large dining room and sports bar. But in an attempt to expand into underserved markets amid rising construction costs, the chain has reevaluated its longtime building strategy. It turns out that even a time-honoured classic has to move with the times." "Over the past six years, Boston Pizza has made two major adjustments to the way it builds restaurants. First, it’s shifted towards a 25% smaller footprint that reduces non-revenue-generating space while maintaining the seat count at around 240. There’s still plenty of room for its four major revenue streams—the dining room, sports bar, three-season patio, and takeout and delivery—but with the perk of significant savings in capital and operating expenses. “Reducing the space not only means that it costs us less to build, but costs less in rent on an ongoing basis,” says Boston Pizza president Jordan Holm. “It’s more efficient for us and the franchisee.” "But in a more radical shift for a brand that made its name on purpose-built spaces with a cookie-cutter formula, Boston Pizza is now experimenting with retrofitting existing restaurants. “We used to really value being the first brand to exist in a physical structure, since it gives us so much more control,” says Holm. But creating from scratch isn’t realistic in every market. “It’s time to show that the brand can adapt and be successful in different physical representations.” Sure, the new approach involves a little more head-scratching than building from the ground up, but it also opens new avenues for growth in areas that were previously out of reach. The first retrofit opened in January at Four Points Sheraton in Vaughan, Ontario, and another is under construction in Renfrew." https://lnkd.in/g7dEHeQ8 #canada #retail #restaurant
Boston Pizza scales down in bid to expand into underserved markets
theglobeandmail.com
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🏥 𝑩𝒖𝒓𝒈𝒆𝒓 𝑲𝒊𝒏𝒈 𝒔𝒆𝒕 𝒕𝒐 𝒊𝒏𝒗𝒆𝒔𝒕 𝒂𝒏𝒐𝒕𝒉𝒆𝒓 $300 𝑴 𝒐𝒏 𝒈𝒓𝒂𝒏𝒅 𝒐𝒖𝒕𝒍𝒆𝒕 𝒓𝒆𝒎𝒐𝒅𝒆𝒍𝒊𝒏𝒈 𝒑𝒓𝒐𝒋𝒆𝒄𝒕☀ In April 2024, As part of a larger turnaround attempt, Burger King plans to renovate roughly 1,100 of its U.S. stores with an additional 💸$300 million investment. Burger King's return plan was initiated a year and a half ago by its owner, Restaurant Brands International, with $250 million going toward 🍽restaurant renovations, equipment upgrades, and #technological upgrades. An extra $150 million was allocated for advertising and the company's #mobile app📱. To expedite the refurbishment process, the parent firm paid $1 billion💰 in January to acquire #CarrolsRestaurant Group, the largest Burger King🍔 #franchisee in the United States. The corporation projects that modernizing 600 Carrols outlets will cost an extra $500 million. Restaurant Brands plans to invest a total of about $2.2 billion, including this most recent investment, to resurrect the chain's U.S. business. By 2028, the firm hopes that 85–90% of its nearly 7,000 restaurants in the United States would have the same contemporary style. 𝑩𝒓𝒐𝒘𝒔𝒆 𝒂𝒕 𝒐𝒖𝒓 𝑳𝒊𝒏𝒌𝒆𝒅 𝑹𝒆𝒑𝒐𝒓𝒕 👉:https://bit.ly/4aYZsCW #BurgerKing #RestaurantBrandsInternational #FastFood #Restaurant
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I’m a restaurant guy; help me!! It is remarkable to me how many restaurant owners own their buildings. The average restaurant in NYC has an expected longevity of less than 2 years. And those who make it often have issues when their leases expire if their landlord knows they are doing well. One of the ways to avoid getting held up by a landlord who sees how well the restaurant is doing is for the restaurateur to purchase the building the restaurant is in. Owning the building creates certainty for the operator. Interestingly, while real estate is not their main business, I have found restaurant operators to be extraordinarily interested in real estate. They are likely to take your calls and always want to know what else is going on in the neighborhood and on the block. They are the perfect prospect for a broker wanting to build long-term relationships. Over the years, we have sold dozens of buildings for restaurant guys. Anthony DiSeverio was one of those clients. He owned and ran Abruzzi Restaurant at 37 West 56th Street. The three adjacent buildings to the east were owned by an attorney. I spoke to him several times but he never would meet with me and when he decided to sell his buildings, he sold them himself for about $9 million each to an active developer. Meanwhile, I spoke to Anthony regularly, every quarter or so. I also sent him mail (hard mail in those days) every month with information about the neighborhood. Each time I called Anthony, we had a nice conversation and he would regularly invite me over for some pasta and to talk about the market. When he was approached by the developer who purchased the three buildings next door, he called me right away. “Bob, I need your help. Come over for some penne. I have to talk to you!” I loved his penne with vodka sauce with prosciutto added to the sauce! Over lunch, he told me that he got a great offer and thought it was time to sell and move on. The developer offered him $11 million but on some challenging terms with a low deposit and a long closing period. I told him I thought we could get him up and get better terms if we threatened to go broadly to the market to find a user to purchase the property. Anthony retained me to represent him and we immediately set up a meeting. I made a list of all of the retailers on the block and called them to see if any were interested in owning a building in which they could occupy the retail space. There was an interested shoe company (we sold them a building across the street a couple of years later). Using that user as a threat, we were able to get the developer to improve their offer by putting up a 10% deposit and close in the standard 90 days… oh, and at a price of $12.95 million. Continued in the first comment... #testimonialtuesday #investmentsales #nycrealestate
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As price-conscious Americans cut back on eating out, fast-casual restaurants are bucking the trend and continuing to attract consumers. This is notably the case with buzzy Mediterranean chain CAVA. The eatery has been rapidly expanding its number of locations and plans to offer steak next month — a move that led the company to boost its full-year sales outlook. CAVA expects same-store sales of 6.5% for the year, up from 5% previously estimated. It opened another 14 restaurants last quarter, bringing its total to 323. After a recent opening in Illinois, CAVA is now open in 25 states and Washington, D.C.
CAVA Could Get More Aggressive in New Market Expansion
https://www.qsrmagazine.com
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Multi-Unit Operations Leader Specializing in Restaurant & Hospitality | Deep Expertise in Franchise Development, Food Service Quality, Team Training & Food Safety
Taco Bell's new Go Mobile design is a bold response to the challenges the company is facing. Their new digital-forward approach to the fast food restaurant experience caters to changing consumer behaviors and reduces labor costs. Taco Bell is facing a labor shortage, supply chain issues, and competition from other fast food chains. It will be interesting to see how this innovation plays out. #innovation #restaurantmanagement #franchisebusiness #franchise
A look at Taco Bell’s new Go Mobile design
nrn.com
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According to a recent piece in Nation's Restaurant News, restaurant operators may continue to face some construction challenges in 2024, thus increasing the importance of implementing creative business solutions. Earlier this year, we announced the launch of Little Caesars Pizza PODs. These modular units address some of the common concerns in our industry, providing a quicker construction timeline and smaller prototype with minimal staffing requirements to operate. Our goal with these, and all Little Caesars prototypes, is to keep operating costs low and margins high. Learn more about how we're addressing the needs of today's consumers and business owners by reaching out to us directly. #LittleCaesars #PODPrototype #FranchiseOpportunities #RestaurantDesign
What’s up with restaurant real estate in 2024
nrn.com
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