According to Jack Crifasi, 2016 saw an increase in restaurant leasing activity compared to 2015.
This trend will continue into 2017 as the economy continues to recover.
There are currently very few restaurant locations that are built out and available for lease.
This means that a restaurateur looking to open a restaurant in a strategic location will have to consider doing a build out on their space.
The availability of restaurant space is also impacted by the parking and zoning available. There are just so many restaurants that can go into a shopping center.
We see a continuation of this tightening for restaurants into 2017 as 2nd generation restaurant space continues to dwindle.
Because of these factors, availability will be reduced causing prices to increase for leasing restaurant space.