As the retail real estate industry transforms in the wake of the recession, mall and shopping center owners are building relationships with the kinds of tenants they might have ignored 5 or 10 years ago.
Restaurant operators only gained acceptance as mall tenants in early 2000s. Their parking needs, long hours of operation and heavy cleaning requirements were previously seen as a burden. Gradually, however, retail landlords began doing business with large national chains like the Cheesecake Factory and P.F. Chang’s China Bistro and enjoyed great success in the process.
Today, many landlords are taking the next step by targeting smaller, independent restaurateurs, many of whom have no experience operating in a shopping center environment. Why now?