Atlas Restaurant Group was projected to generate $85 million of business coming in 2020. Not surprisingly, the novel coronavirus ruined those plans.
But as the year winds to a close, CEO Alex Smith thinks 2021 is ripe for growth, with the recession offering restaurateurs an opportunity to secure management deals in spaces that might otherwise be unattainable.
"There are a lot of developers out there with big projects still moving forward, and they're going to have empty space," Smith says. "Now, landlords who have capital behind them are looking to build out spaces for restaurateurs to provide traffic into their developments."
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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.
