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Despite the fact that national QSR chains are reporting an average dip in sales of about 25% in the coronavirus, their NOIs have not changed significantly.
Two recent developments will help many in the hospitality, restaurant and tourism industries avoid permanently shuttering their businesses due to the global COVID-19 pandemic.
Cargill is leasing 70,000-square feet at Beacon Logistics Park, half of which is for freezer space with the remaining space allocated for offices and cooler storage.
With stores like Neiman Marcus, JC Penney and Pier 1 struggling, there could be excess retail warehouse space later this year, particularly in the Inland Empire.