WASHINGTON, DC-A Florida-based restaurant chain will be opening 15 to 18 restaurants in the metro area over the next four years. First Watch Restaurants, Inc., plans to open its first location in Fairfax, VA at the end of the month at 9600 Main St. at Fair City Mall.
A second restaurant in Baltimore, in the Pikesville Shopping Center at 1431 Reistertown Rd., will open later this year. Locations in Herndon, VA and Rockville, MD will be developed in 2007. Separate plans also call for openings in the Philadelphia and Pittsburgh markets in 2007.
A spokesperson from First Watch tells GlobeSt.com that each opening represents an investment of $500,000. The firm typically leases space between 3,500 sf to 4,000 sf in high-end, open-air shopping centers.
"We expect First Watch to thrive in this sophisticated area," says First Watch president and CEO Ken Pendery. "It's a significant market that should ultimately be able to support between 15 and 18 First Watch restaurants."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
