RETAIL PROPERTY OWNERS REVITALIZING ASSETS WITH POPULAR FAST-CASUAL DINING OPTIONS
Transwestern Expert Explores Impact of Cash-Strapped Millennials on Restaurant Scene
HOUSTON, Dec. 06, 2017 (GLOBE NEWSWIRE) -- In its latest edition of “Ask the Expert,” Transwestern explores the evolution of food culture and widespread appeal of fast-casual dining, a segment of the restaurant sector that retail property owners are courting to drive foot traffic at malls and shopping centers.
“Restaurants are key to a successful retail mix as consumers spend more on activities and less on goods,” said Vice President Chris Reyes, a restaurant advisory specialist at Transwestern. “However, the financial crisis and a millennial generation that has less disposable income than baby boomers has prompted a shift from full-service restaurants to counter-service establishments.”
Reyes explains that millennials have embraced the trade-off of reduced server attention and a simpler dining atmosphere in exchange for a lower price on a high-quality meal, and projects that dining establishments that cater to the budget-conscious, frequent diner will be successful.
As the counter-service craze continues, high-end restaurants are seeing less traffic from baby boomers and corporate accounts. In fact, some establishments are investing in smaller, counter-service versions of their restaurants to cater to today’s consumer.
“With millennials valuing environmental responsibility and supporting local establishments, they will likely favor restaurants that promote organic and locally sourced ingredients while keeping within their modest budget,” said Reyes. “Entrepreneurial restauranteurs should consider marrying farm-to-table dishes with the fast-casual model to bridge the gap.”
Read the full publication at: http://twurls.com/counter-culture
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
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Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5c3ce298-f954-4cb8-823a-9021dd00f94e
Stefanie Lewis
Transwestern
713.272.1266
stefanie.lewis@transwestern.com
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