HGEM’s Post

"New Restaurant and Retail Opening in National Landing" Read the full article below..

Celebrity-backed restaurants are gaining traction in Canada, according to JLL, reported Connect CRE. "The company’s latest Celebrity Restaurants Report shows that Toronto has emerged as a top destination for celebrity restaurants in North America. Toronto, with 18, ranked sixth in North America among celebrity-backed restaurant openings between 2019 and 2024." "A total of 361 celebrity-backed restaurants opened across North America during that period. Toronto tied with Chicago and placed well ahead ahead of New York, Dallas, Miami, Washington, D.C.; and Kansas City, which posted nine openings apiece. The list includes cities in which five or more celebrity-supported eateries launched." https://lnkd.in/gnEKpYCv #canada #restuarants #celebrity

Why do restaurant companies open opposite each other? It’s all to do with Hotelling’s Model of Spatial Competition … #property #realestate #propertyinvestment #propertymanagement #estateagent #estateagentsuk #propertytolet #londonproperty #restaurant #retail #shops

Check out some of The Goldstein Group's recent transactions. #retailrealestate #storeopenings #restaurants #restaurant #thegoldsteingroup #njrealestate #newjerseyrealestate

The future of the Australian restaurant scene is at a crossroads. With many elite establishments closing, it raises a critical question: Are we witnessing the end of fine dining, or was the market oversaturated? The decline of fine dining may be due to changing consumer preferences, economic pressures, and the industry's high costs. It’s possible the market had too many options, leading to natural consolidation where only the most unique survive. The fine dining industry might adapt by offering innovative experiences, sustainable practices, and personalized services. However, casual dining is poised to dominate due to its affordability, flexibility, and appeal to modern diners' preferences for takeout and relaxed atmospheres. In my opinion, while fine dining faces challenges, it may transform and endure. Meanwhile, casual dining's prominence will likely grow, leading to a diverse and dynamic restaurant landscape in Australia. What do you think?👇🏽

When a well-located restaurant closed and retail was no longer the property’s highest and best use, Next was there to redevelop the site.   Read all about it at https://lnkd.in/gaff__nG #CRE #commercialproperty #propertysuccess

Learn why it's important for retailers & restaurants to strengthen power management and see how Sonic is leading by example by prioritizing surge protection Read the article ⚡ https://lnkd.in/eYwhGaDg #Retail #RestaurantMaintenaince #Restaurant Story by Samuel Hammers, Eaton

The Unlikely New Real-Estate Darling: Restaurants The WSJ wrote a great article detailing the current state of restaurant real estate. See summary below: Total restaurant sales have never been higher. They are on track to top $1.1 trillion this year, a 5.4% increase from 2023’s record-high level, according to the National Restaurant Association, an industry group. Historically, restaurants have been perceived as risky tenants; however, with changing consumer spending habits caused by rising wages, low unemployment, and the emergence of “foodie culture,” food service leases have become a powerful force in the retail real-estate sector. In the past year, more than 19% of retail leases were allocated to food services, marking the highest proportion for any category since 2007. Further, food tenants have been favorable for landlords due to the influx of creditworthy chains and the proven track record of these establishments in boosting foot traffic to nearby businesses. https://lnkd.in/e_vB7cfu ___________________________________________________________________________ If interested in purchasing a restaurant I am currently selling a turn-key restaurant opportunity on W Atlantic Ave in Delray Beach. This deal comes with over 100+ parking spots, a liquor license, all the kitchen equipment allowing an operator to quickly open up their own concept. If you would like more details feel free to download the OM or reach out to myself or Robert Goldberg directly. https://lnkd.in/e26xJR_W

It’s almost patio season! According to the National Restaurant Association outdoor dining represents a significant proportion of business for restaurants that offer it. Overall, 35% of operators that offer outdoor seating say it accounts for more than 40% of their average daily sales. Fifteen percent of operators say it represents more than 70% of their daily sales. #restaurant #commercialrealestate #dining

Hawksmoor Will Beckett #restaurantindustry Hawksmoor reports record year of turnover and profit: Steakhouse concept Hawksmoor has said that 2023 was a stand-out year for the business, as it saw turnover increase by more than 20% to a record £90m (2022: £73.9m). Meanwhile, its established restaurants delivered Ebitda margins in excess of 20%. The company currently operates 12 restaurants in London, Manchester, Edinburgh, Liverpool, Dublin and New York, with a site in Chicago opening later this year. Last May, the business opened a site in Dublin, which it said is hitting weekly sales highs in excess of €230,000 (£196,142). During the year, the company was also ranked number two among the World’s Best Steak Restaurants – the highest ranking of any steakhouse in Europe or the US. In what is the longest run for any hospitality company in the UK, Hawksmoor gained a 12th consecutive ranking among the top 100 employers in the UK (Best Companies) and a 13th consecutive year with a maximum three-star rating from the Sustainable Restaurant Association. Will Beckett, co-founder and chief executive of Hawksmoor, said: “2023 was a stand-out year for Hawksmoor. While it’s always fantastic to deliver great numbers, what really motivates my co-founder Huw [Gott], me, and the rest of the team is demonstrating how financially successful restaurants can be when they strive to deliver real integrity at scale. Being a B Corp and achieving great growth and profits is something we’re all extremely proud of.” Chair Dame Karen Jones added: “Hawksmoor’s results are, again, excellent. They are a testament to an unswerving focus on our customers, the quality and strength-in-depth of the management team, and to Hawksmoor’s enduring appeal as an employer of choice. These are special restaurants, and Hawksmoor is a special business.” This year, Hawksmoor will open its most ambitious restaurant to date – a 16,500 square-foot restaurant in Chicago. This is the company’s second site in the US, following its “highly successful and critically acclaimed restaurant” in New York, and further builds on the team’s international strategy and ambitions. We understand the environment that we’re in, and we feel like it’s time to start building on that momentum in the US.”