One of the important segments of net lease is the food and drink industry. Citizens, a banking company that some time back acquired Trinity Capital and its expertise in the restaurant industry, came out with its review of industry trends from 2023.
Here are some of the key points:
Operators saw continued strong demand with projected sales reaching $997 billion, for a 6% year-over-year increase. Just over a third of people visited casual dining restaurants at least once a week. As macroeconomic forces continue to ease, their projection is for another 6% increase in 2024, though increased consumer debt — at historic levels — could have a dampening effect.
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