Restaurant real estate is coming out hot
During the pandemic, food services businesses made for terrible renters as restaurants struggled while people dined at home, fearful of catching Covid. Now they’re the hottest retail real estate class, according to the Wall Street Journal, as Americans head back to restaurants in droves and spend a larger portion of their income eating out.
Food services accounted for more than 19% of retail leases last year, data from CoStar Group, shows — the highest proportion of any category on record.
