EAST HANOVER, NJ-New Five Guys Burger & Fries leases at 240 Route 10 West here and 808 Route 46 in Parsippany is just part of an expansion that will see the quick-service restaurant chain double its presence in three New Jersey counties, says RKF.
Genco Development, LLC, the franchisee opening the restaurants, now has units in Denville, Madison, Wayne, Parsippany, and East Hanover, and plans five more within the next few years, says Glenn Beyer, a managing director of RKF, which represents Genco in Morris, Passaic and Sussex Counties.
“It’s the high-income demographics,” prompting the expansion, Beyer tells GlobeSt.com.
Genco will open its 2,689-square-foot restaurant in East Hanover in March, and the Parsippany unit, located at the 420,000-square-foot power center Westmount Plaza, this month. With other franchisees around the state, there are 30 Five Guys restaurants in New Jersey.
Five Guys’ expansion will take place largely in inline spaces or end caps. The quality of the restaurant’s offerings make it appealing to landlords, as well, particularly as they have become more selective about food users, Beyer reports.
“The QSR category has really exploded in the last couple of years,” he says, making them more than competitive with the massive number of fast-food hamburger restaurants in the area.
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