The pandemic has ripped through the D.C. restaurant industry over the past two years, driving historic retail vacancy rates in parts of the District as small and large businesses alike have been forced to close up shop.
The large supply of second-generation restaurant space in the market, now that more customers feel comfortable dining out, has served as a siren song for growing restaurant groups eager to gain a foothold in D.C.’s dining scene.
“There’s absolutely attention on D.C. from those national brands, more so than ever before,” said Kelly Silverman, senior vice president at CBRE.
Those brands are finding willing partners in landlords who lost their tenants to the pandemic. These property owners, dealing with reduced rental income for two years, are eager to find tenants that won’t go under if pandemic disruptions or another force majeure appears.
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