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Property Development News Around San Diego: Nearly a year after announcing that Joe’s Crab Shack would eventually be leaving its longstanding bayfront location, the Port of San Diego has received proposals from 8 operators interested in developing a new restaurant concept to take its place. While the restaurant site poses some challenges in terms of vehicular access, it nevertheless occupies a prime location, just behind the San Diego Convention Center and steps away from The Rady Shell at Jacobs Park. I'd love to hear your thoughts on this new this property development - Who do you think should take over the Joe's Crab Shack location? Should it be one of your favorite restaurants adding a new location? Should it be one of the big restaurant groups in San Diego? Or maybe a new restaurant from outside of San Diego? Learn more: https://lnkd.in/gt8p93mf . . . . #ChicagoTitle #CommunityUpdate #AroundSanDiego #PropertyDevelopmentNews #RealEstateNews #StrategicBusinessPartner #SanDiegoDevelopments #EmbarcaderoSanDiego #DowntownSanDiego

The restaurant game is a recipe, and one of the key ingredients is where a restaurateur opens up shop. Here are certain factors proprietors and real estate brokers repeatedly discuss when looking for the right locations. https://lnkd.in/eCnknvp8

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

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

BEST RESTAURANTS: 2023 Downtown Dining Readers’ Poll Complete Results! Doing a poll of #downtownSanDiego’s #bestrestaurants was a labor of foodie love. There are plenty of regional best resto polls, but only ours focuses exclusively on the city. In our inaugural Downtown Dining Readers’ Poll, the upscale, urban eateries got their deserved due. Congrats to the continued culinary excellence displayed at spots like #Callie, #CowboyStar and #BornAndRaised. Those places elevate the epicurean status of 92101. Bonus: Our poll also lets some lesser-known neighborhood joints share the spotlight. We specifically polled for best restaurants in six downtown neighborhoods. And it was a joy to see smaller, newer places like Ukrainian-owned #AdoreCoffeeHouse, community-focused #Modbom/Papalo and nonprofit-spirited #TimmysPlace get named as runners-ups. Unfortunately, Modbom/Popalo called it quits right after our poll results were released. It’s especially tough to keep a business going in East Village these days. (Check back on another day for stories about homelessness and politics.) One of the things we learned in doing our downtown-SD-centric poll is that not everybody is familiar with borderlines for 92101’s neighborhoods. Core-Columbia. Cortez Hill. We’ll be back in the future with more insight not just on places to eat there but who the residents are and the challenges they face. In all, we’re upbeat and grateful to the hundreds of readers who submitted ballots in our inaugural poll. We’ll do it again next year. In fact, we’ve been inspired to present some fun surprises in the form of other polls about what’s best about our downtown hood. In the months to come, expect more light from The San Diego Sun. Enjoy this complete list of the restaurants that were recognized in our 2023 Downtown Dining Readers’ Poll:

Restaurant Armageddon isn't the end—it's actually... ...about seizing the opportunities at hand. What some might see as a challenge, we view as the perfect storm for our clients. Restaurant Armageddon signifies a pivotal moment in Miami's dining landscape, where closures pave the way for prime opportunities to acquire top-tier restaurant spaces. A lot of people who didn't heed our advice are now offloading their spots, and let me tell you, these properties are absolute gems on the market right now. We're talking killer locations, fully outfitted and ready for business—some of the best offerings we've seen in quite some time. The best part? These spaces have already navigated the bureaucratic nightmare of permitting. That means less red tape for you and more focus on what truly matters—getting your restaurant up and running smoothly. Now, don't expect a steal of a deal at $50 per square foot in locations like the Grove or South of 5th. Although it's 'Restaurant Armageddon' areas like these command high market prices, reflecting their unbeatable exposure and foot traffic potential. It's about paying the right price BUT not overpaying in neighborhood where your concept has the best chance at survival. All it takes now is a rock-solid business plan, bulletproof financial strategy, and the right broker on your side (@fandbmiami 😉 ) to capitalize on these opportunities. With the right preparation, you can position yourself to hit the ground running and establish your restaurant before the seasonal rush hits. Remember, 'Restaurant Armageddon' isn't a downfall—it's a fresh start for those bold enough to seize the moment and adapt to the culinary landscape changes Miami is facing. Let's make it happen 🔥 How long have you been searching for the perfect spot in Miami? Let me know in the comments👇

New Listing Alert |Prime 28,162 SF land available! LAX adjacent with visibility from the 405 Freeway, right beside Public Storage. Ideal for restaurant, retail, drive-thru and car wash operations!    For more information on this listing, please contact Mike Getz.      #RetailSpace #RestaurantForLease #LAXAdjacent #tenantrep #landlordrep #epsteenandassociates #chainlinkscre #LosAngeles

What an insightful read. Certainly, the categories and costs may change depending on the restaurant, but very helpful to see the analysis from a comparison perspective.

Is restaurant dooms day upon us? In the recent years, many restaurants in Miami found themselves overpaying on rent, grappling with soaring costs of goods, and possibly overspending on their space's buildout. While Miami has undoubtedly been expanding, some rushed into opening restaurants without thoroughly analyzing their costs and understanding what truly succeeds in this unique city. Miami is practically its own country, operating under a different economic dynamic. Here, high-priced mediocre products simply don't cut it. Although it may seem that way from an outsider's perspective. If you're a restaurant owner in Miami, you're likely in one of two situations: either thriving as usual or struggling to get by. There's not much in-between right now in this city. Unfortunately, we're witnessing the closure of many local favorites due to high rent, insurance, taxes and costs of goods, and Miami risks losing its uniqueness and swag as big corporations infiltrate. Miami's expansion is at risk of favoring big names over local hubs who give Miami its character. But if you have a unique product or concept, here's the silver lining: In the next couple of months, restaurants that didn't heed my advice will be closing, leaving a wealth of second-generation spaces for those seeking a new location. So seize the opportunity and set yourself up with terms and timelines that are realistic for longterm success. As restaurants close in the coming months, a wave of second-generation spaces will be available for those ready to make their mark in Miami's evolving culinary landscape. It's a chance for the unique and innovative to shine in a city that values the extraordinary. In the evolution of Miami's culinary scene don't just find a location; create an experience that becomes a cornerstone of what makes Miami's dining culture truly special. The future is ripe with possibilities for those who dare to redefine and elevate the city's gastronomic narrative. Follow along to master how to play your cards right in the magic city.

Explore our case study to see how SHF's comprehensive construction played a vital role in the success of Veggy Street's restaurant project. Click the link to learn more! https://lnkd.in/g5NGArwc