Fast-casual restaurants seize on vacant strip-mall space

TRD New York /
Dec.December 09, 2011 11:17 AM

More restaurants are eyeing strip-mall space due to price and the
flexibility offered by landlords, Yahoo News reported.

So-called “fast-casual” restaurants, such as Chipotle Mexican Grill,
Panera Bread and Buffalo Wild Wings, are taking advantage of available
space in suburban strip malls nationwide created by the recession.

Strip-mall space often makes sense for restaurants because they don’t
have to invest in building new locations from the ground up, and
because landlords will often allow them to customize their space
however they need to.

“The fast casual sector has done really well in suburban locations,
and it’s a little easier to find locations in the suburbs right now,”
said Bart Glenn, a restaurant analyst at D.A. Davidson & Co. “Many of
these fast casual restaurants end up in strip centers that either went
out of business or are being repurposed.”

Buffalo Wild Wings recently announced the opening of its 800th
restaurant. Chipotle’s tally of new restaurants opened this year could
top 145, and it expects 155 to 165 in 2012. The company currently has
more than 1,100 restaurants. [Yahoo]


Related Articles

arrow_forward_ios
Even as the economy begins to reopen, many restaurant and cafe tenants like Chipotle and Starbucks are requesting rent reductions amid projected declines in revenue. (Photos by Roy Rochlin/Getty Images and Alex Tai/SOPA Images/LightRocket via Getty Images)

Major restaurants and cafes seek rent cuts, irking landlords

Major restaurants and cafes seek rent cuts, irking landlords
Long Island Cheat Sheet: Nassau IDA seeks Amazon HQ2 benefits, Hauppauge building sells for $32M, Q4 office leasing activity dips … & more

Long Island Cheat Sheet: Nassau IDA seeks Amazon HQ2 benefits, Hauppauge building sells for $32M, Q4 office leasing activity dips … & more

Long Island Cheat Sheet: Nassau IDA seeks Amazon HQ2 benefits, Hauppauge building sells for $32M, Q4 office leasing activity dips … & more
From left: Tyler Bennett and the Bellcrest Plaza

With new assignment, Winick’s fledgling New Jersey office representing 1 million SF of retail space

With new assignment, Winick’s fledgling New Jersey office representing 1 million SF of retail space
Chipotle chief drops price on West Village home

Chipotle chief drops price on West Village home

Chipotle chief drops price on West Village home
From left: Steve Ells, the front and rear facades of 92 Jane Street and an out door room at the same address

Chipotle CEO lists WV townhouse for $16.5M

Chipotle CEO lists WV townhouse for $16.5M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...