More landlords are taking ownership stakes in their own foodie-friendly tenants

October 3, 2016 Published by CP Voice

More landlords are taking ownership stakes in their own foodie-friendly tenants — particularly at upscale centers where wooing the right eateries can require sizable upfront investments. “We’re seeing more situations where, to get the sexy restaurants they want, landlords are making tenant allowance contributions of $300 or $400 a foot, which, in some cases, is disproportionate to what the restaurateur is putting in,” said David Orkin, an executive vice president at CBRE and the firm’s restaurant-practice leader for the Americas. “Some landlords are saying, ‘Hey, if I’m taking that additional risk, then I might as well take an actual ownership position — in addition to getting returns on my real estate and the build-out money that I put in here — because I’m already effectively the restaurateur’s partner.’ ”

View Article
Tags: , ,

Categorized in:

This post was written by CP Voice