It would seem we are entering a stage of fragile recovery from the depths of the COVID-19-induced recession. I say fragile because the threat of new virus strains still exists, and confidence in a general return to enclosed spaces still looms large. Even so, slowly we are emerging, even though masks, hand sanitizers and caution around handshakes are still with us and it seems will be for some time to come. 

Those ongoing protections are part of the so-called new normal, the new rules of engagement. We are seeing it take shape in other forms as well, a new melding of traditional wants and needs with this new reality. We see it in the office sector, for instance, with a rise in work-from-home and hybrid policies in place. We see it in retail, with the increase in internet shopping. And we're seeing it in the sit-down/casual dining restaurant sector as well.

It's often written that certain retail sectors were arguably (next to the office sector) the hardest hit area of commercial real estate. And within the retail space, restaurants show the most battle scars. Diners stayed away in obvious droves to avoid interaction and possible contamination, drilling a huge hole in restaurant profitability.