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San Francisco Business Times: New downtown S.F. restaurant openings are outpacing closures, report finds In 2022 and 2023, the downtown area saw a notable increase in food and beverage businesses, with over twice as many openings as closures, based on a survey by the Downtown SF Partnership, which covers 43 blocks across the Financial District and Jackson Square. The report highlights the opening of 22 new businesses against 10 closures, indicating a positive shift towards downtown's appeal for dining and socializing post-pandemic. The survey, informed by two years of data and analytics from Placer.ai, recorded 29 new ground-floor businesses, 22 of which are in the food and beverage sector, including a variety of restaurants, cafes, and specialty food spots. Robbie Silver, the Partnership's Executive Director, expresses optimism for continued growth in dining, hospitality, arts, and culture. The report also details an initiative to transform downtown into a destination, reinforcing its potential as a nightlife hub, with sit-down restaurants and bars making up a significant portion of the area's 138 restaurants. Link to full article: https://lnkd.in/dJT3rpZz #DowntownSF #DowntownSanFrancisco #EconomicDevelopment #Report #EconomicRecovery #Hospitality #Events #Community #PublicRealm

In the glory days of the American mall, you were likely flipping a coin with your friends to decide between Panda Express and Sbarro. But as retail has changed, so too has the restaurant scene, per CNN. While we’d be lying if we said anything could top a warm Auntie Anne’s pretzel, today’s mall food is not only upping the quality — it’s also increasing the square footage. Restaurants have broken out of the food court, with the total mall space dedicated to food amounting to 15%-20%, up from 5% in the ‘90s. And the restaurants themselves are changing, too. Local chains, global cuisines, and entertainment dining concepts are moving in, attracting shoppers to restaurants as the main attraction rather than an afterthought. Given that ~150 enclosed malls have shuttered in the US since 2008, this restaurant resurgence might be just what the landlord ordered.

What's cooking in American shopping malls? Restaurants occupy more space than ever: "In the glory days of the American mall, you were likely flipping a coin with your friends to decide between Panda Express and Sbarro. But as retail has changed, so too has the restaurant scene, per CNN. While we’d be lying if we said anything could top a warm Auntie Anne’s pretzel, today’s mall food is not only upping the quality — it’s also increasing the square footage. Restaurants have broken out of the food court, with the total mall space dedicated to food amounting to 15%-20%, up from 5% in the ‘90s. "And the restaurants themselves are changing, too. Local chains, global cuisines, and entertainment dining concepts are moving in, attracting shoppers to restaurants as the main attraction rather than an afterthought. Given that ~150 enclosed malls have shuttered in the US since 2008, this restaurant resurgence might be just what the landlord ordered." https://lnkd.in/gxgbc-Hm

The restaurant sector is now a dominant force in retail real estate, as Americans’ dining habits shift dramatically. According to The Wall Street Journal, food services accounted for over 19% of all retail leases last year, marking the highest proportion tracked by CoStar Group since 2007. This surge in restaurant activity reflects broader trends such as increased dining out, boosted by low unemployment, rising wages and the growing popularity of “foodie culture.” The rebound in leasing has significantly contributed to the sector's robust recovery post-pandemic. While dining out expenses dropped during 2020, spending quickly rebounded, with total restaurant sales expected to surpass $1.1 trillion this year. High-profile chains like Chipotle Mexican Grill are capitalizing on this trend, opening numerous new locations and integrating features like drive-through lanes to cater to changing consumer behaviors. Despite some challenges, such as rising operational costs and slowing growth for certain brands, the overall restaurant industry remains resilient and continues to thrive. Take a bite out of all the details below:

Interesting deep dive into an uptick in dining out, particularly among millennials. "The average household spent nearly 53% of its food budget on food away from home last year, a record-high proportion. Total restaurant sales have never been higher, on track to top $1.1 trillion this year." Could this lead to an accelerated period of unit growth in the industry? https://lnkd.in/gDswVEdU? #restaurantdevelopment #RestaurantSpaces

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What do stadium-goers' dining and shopping habits tell us? Hear from Ethan Chernofsky in the latest weekly brief for an update on the significant retail opportunity associated with stadiums, and discover why location intelligence could be the key to tapping into it. #advertising #consumerinsights #retail

How to Select the Perfect Site for Your New Restaurant? Choosing the right location for your new restaurant is crucial for its success. The site you select can determine the type of customers you attract, your operational efficiency, and ultimately, your profitability. Here are some key points to consider when selecting a site for your new restaurant. Quick Service Restaurant (QSR): Quick Service Restaurant (QSR) These restaurants thrive in high-traffic areas such as malls, busy streets, and business districts where customers are looking for fast, convenient meals. Fine Dine-In: Fine Dine-In These establishments benefit from upscale, serene environments, often located in affluent neighborhoods or near cultural hubs where customers seek a more refined dining experience. Dine-In: Dine-In Traditional dine-in restaurants should be in areas with steady foot traffic, such as downtown areas, shopping centers, or near entertainment venues. Cafes: Cafes perform well in casual, relaxed settings like college towns, business districts, and residential neighborhoods with a steady stream of foot traffic. Conclusion: Selecting the right site for your new restaurant involves a thorough analysis of various factors including demographics, visibility, competition, and cost. By considering these points and understanding the unique requirements of different types of restaurants, you can choose a location that maximizes your chances of success. #restaurant #success #newrestaurant #QSR #DineIn

Food halls are evolving into vibrant, all-day destinations that blend dining with entertainment. Should we rethink traditional food courts? Check out the latest trends 👇 #food #retail #foodnews