Five Guys Burgers and Fries

Every franchisee territory in the United States has [Read More]]]> We are taking a series of quick looks at retail leasing trends for 2011 starting with some expansion minded companies in the Quick Serve / Fast Casual restaurant segment. These fast growing retail real estate prospects are suggested courtesy of our friends at CreditTenants.com

Five Guys Burgers and Fries

Every franchisee territory in the United States has been spoken for… not bad for a company that didn’t start expanding until 2002. So while Wendy’s has been stalling since its buyout by Arby’s in early 2008, Burger King has seen same-store sales decline, and McDonald’s facilities and menu looking outdated. There is a new fast-food “guy” in town. (See Making over McDonald’s for some great new designs that franchisers just aren’t buying.)

As of August 2010, there are only 610 Five Guys restaurants in 40 states and Canada (compared to McDonald’s 13,300). Combine that with explosive sales at 50% year-to-year making it the #1 fastest growing restaurant with sales over $200 Million. There’s no question that you should see more of these “guys” in 2011.

Chipotle Mexican Grill

Why look for Chipotle in 2011? Well, you won’t have too, they will most certainly find you. A 3-year growth over 62%, gross sales over $1.5B with only 1,000 locations, and, a business model based on corporately owned stores for quality, is a recipe any landlord likes to see.

Don’t worry about their quality fading. The founder Steve Ells, a Culinary Institute of America graduate, philosophy on Chipotle is simple, he says “It’s important to keep the menu focused, because if you just do a few things, you can ensure that you do them better than anybody else.” Let’s see, a Big Mac, Fries and a Coke $6.99, or, a seasoned rice, chicken, beans (pinto or black), sautéed green peppers and onions, and a little cheese, and you’re at $6.99. And while you’re squirting ketchup messing up your hands, I’m having it “my way” with a one of three flavored bottles of Tabasco sauce. ( Some notes on Chipolte’s green building approach and more photos here. )

Buffalo Wild Wings

Let’s just nickname this place, “the ultimate man’s sportsbar.” It’s got 3 great things about it, 1. Choose from 14 “signature” sauces 2. 360 TV’s 3. Hooter-like waitresses. They’re just testing the waters with 642 restaurants in 42 states with 206 of them opening in the last 3 years. Grand Opening sales are off the charts and Wall Street is predicting just 25% percent increase in sales over the next 5 years? Really?

Our neighborhoods are full of empty storefronts and office buildings. Stalled development projects have left holes in the ground. How is commercial real estate fairing? Will developers be [Read More]]]> The always engaging and informative KUOW Weekday program, hosted by Steve Scher explores the current state of Seattle’s commercial real estate environment with a focus on storefront retail.

Our neighborhoods are full of empty storefronts and office buildings. Stalled development projects have left holes in the ground. How is commercial real estate fairing? Will developers be able secure loans for pending projects? How can they attract tenants for existing buildings? How are empty spaces changing where we live? What small businesses would improve your neighborhood?

Of particular interest is the input from Brian Surratt,  development director of Seattle’s Office of Economic Development. He discusses several programs the city is actively implementing to provide loans, funding and support services to small and micro business including retailers.  If you are a retailer in Seattle you should catch this program. Listen to the podcast or stream it here.