Welcome to First Bite, a Nation’s Restaurant News podcast, your daily source of news from NRN hosted by Holly Petre.
Today, we’re talking about the real estate market for restaurants.
Restaurant operators are rethinking their real estate strategies in a challenging market, where top sites are in short supply and costs are rising for both new construction and leased locations.
Some operators that have long focused on building sites from the ground up have shifted instead to a strategy centered on acquiring closed locations and remodeling them to accommodate their own concepts. Others have been taking a closer look at nontraditional locations, such as travel plazas and hotels, or at other sites they might not have considered just a few years ago.
Many operators are also taking consumers’ ongoing interest in off-premises dining into account in their site selection, as they downsize their dining rooms and boost their takeout options with more drive-thru and pickup windows.
Hear more from managing editor Leigh Anne Zinsmeister.
Plus, catch up on all the top news of the day with our daily news recap at the beginning of each episode.