The retail landscape in New Jersey is witnessing a shift as food and beverage businesses secure prime spaces. According to JLL, the brokerage firm recently facilitated leases totaling 24,000 square feet for food and beverage concepts across the state, signaling an aggressive expansion trend. This surge comes amid rising construction costs and limited availability, creating a competitive environment where quick-service and casual dining remain in high demand. Despite these challenges, the post-pandemic appetite for convenience and experiential dining is driving opportunities for restaurant operators to thrive.
JLL broker Alana Friedman told GlobeSt.com some operators have even been looking to get creative and repurpose assets formerly operated by a major brand. For example, that's a former Burger King or TGI Fridays store, including them in a mixed-use development with offices or apartments.
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