Drive-through retail became an investor favorite during the pandemic. In 2020, drive-through revenue increased 5% while revenue from full-service restaurants declined 15%, according to research from CBRE that was obtained exclusively by GlobeSt.com. As a result, both investment volumes and leasing activity for drive-through product increased last year.

"With indoor dining being closed or heavily restricted, drive-throughs provided a quick and easy food option in addition to delivery and outdoor dining. As customers wanted to limit contact, drive-throughs provided another option of being able to get food without having to leave your car and staying safe," Patrick Wade, SVP at CBRE, tells GlobeSt.com.

Drive-through retail includes everything from fast food restaurants to coffee shops and even pharmacies. In Southern California, leasing for these properties totaled 147,000 square feet. Freestanding drive-throughs also took a bigger share of investment volume, up from 5.9% in 2019 to 7.1% in 2020. "Both lenders and investors have shown great interest in drive-throughs as they feel confident that they will be able to remain open, even as the pandemic forces some restaurants to close or eliminate indoor dining," adds Wade. "Drive-through businesses also offer lower operating costs versus indoor and full-service F&B. Investors have taken note of that and the fact that store sales for drive-throughs have increased."