Restaurants Are Still A Strong Retail Anchor

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GlobeSt.com

…Along with food concepts, coffee shops continue to be popular retail attractions. Bill Asher, EVP of Hanley Investment Group, tells GlobeSt.com that developers will continue to repurpose outdated sites previously occupied by independent gas stations or auto-related businesses with, for example, a new Starbucks with a drive-thru. “Approximately 60% to 70% of all business for quick-serve restaurants (like Starbucks) comes through the drive-thru. Starbucks is definitely capitalizing on that success announcing in December 2016 its plans to add 12,000 stores by 2021.” Asher says watch for new “drive-thru-only” Starbucks formats that are typically less than 1,000 square feet with no interior café to increase in years to come and take the place of smaller corner lots in high-traffic locations.

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