Melina Cordero
LOS ANGELES–A significant shift is underway for the US restaurants and grocery industries and the real estate these operators occupy, according to a new CBRE analysis. These changes include a greater push for convenient, prepared foods, a growing millennial influence, and the emergence of inner-ring suburbs as the industry's hottest market.
In short, new consumer preferences are expected to influence many facets of retail real estate, including store location and store design, according to David Orkin, an EVP leading CBRE's Restaurant practice in the Americas. Increasingly stores will find it is essential that they accommodate delivery pickup or prepackaged meals as well as automated ordering and self service, he said.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
