Restaurants – Echo Commercial Tip of the week

My stomach is rumbling, but where should I go to eat? The changing landscape in commercial real estate – restaurants – today on the Echo Commercial Tip of the week.

This week, Burger Fi and Anthony Coal Fired Pizza & Wings announced that they may need to file for bankruptcy or even cease operations throughout the United States. This adds to a troublesome list of businesses that have announced concerning financials or are trying to restructure. Burger Fi has 102 locations and Anthony’s has 60, and when added to the distress of Rubio’s, Tijuana Flats, Red Lobster, Bucca di Beppo and World of Beer, we have several chains that could potentially lead to a ton of vacancies.

How does that affect us? There is always a demand for restaurant space in key areas. Delray, West Palm Beach and Jupiter vacancies could potentially be filled, but at what cost? The turn-around time for a remodel can be lengthy, and the lease rates, which were at a premium in recent times, may take a hit in the interim, causing additional financial stress to the landlords, and subsequently the banks.

Keep your eyes on additional chains announcing financial stress, as it is a good indicator of how the economy is shaping up. That will help you make good decisions if you choose to enter that sector with your latest and greatest restaurant innovation. Call me for restaurant availability. I am Howard Freedland and this has been your Echo Commercial Tip of the Week.

Contact Howard Freedland for more information on Commercial Properties!
Phone: 561.889.2735
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