Sometimes a space is available because even if they gave it away, a restaurant could not flourish. Location, location, location is key. If the traffic pattern does not support your concept, no amount of rent reduction or rent incentives will help. There are plenty of great locations becoming available. I urge you to seize the opportunity, however I caution you that “Such a Deal”, sometimes is not.
Monday, April 7, 2008
Such a deal!
Real estate brokers who were unavailable two years ago are frantically canvassing thriving restaurateurs. Vacancy rates at strip malls are approaching 8%, retail space in downtown buildings is becoming readily available. Prices are descending from the stratosphere, “Such a deal!”
