Restaurant RE Trends for Mid-Year 2024

2 Min Read By MRM Staff

To get more insights on the current status of the restaurant real estate market, Modern Restaurant Management (MRM) magazine reached out to  Satya Guduru, CEO at Janapriya Upscale USA.  

What kind of properties are currently in demand and what trends are you seeing? What markets are doing well and why and what ones are not doing so well? Cost conscious consumers are looking for budget-friendly options. With that in mind, fast casual dining is trending in the restaurant industry in terms of demand for retail spaces.  

Sun Belt markets where there is still a net growth in population are doing well. So, the usual suspects of Texas, Florida and Arizona. Places like New York, San Francisco and Chicago are not doing so well with retail taking a beating due to security/theft-related issues.  

In what ways did the pandemic change the restaurant real estate market? The pandemic forced restaurants to rethink their spaces to be able to add more speed to their response times, more open…