BUZZ
who's doing what
Restaurants seeking to stand out in
a crowded marketplace may find that
secondary markets offer the right op-
portunities, according to the 2018 Retail
and Restaurant Real Estate Outlook from
Buxton, a real estate consultancy.
The report names three larger
secondary markets — with a population
of at least 1.5 million — that stand
out from the rest due to their growing
populations and the fact that they are
relatively unsaturated in terms of exist-
ing restaurants. Similarly sized markets
have an average of 580 consumers
per restaurant.
Fresno, Calif., has a ratio of 724
consumers per restaurant, according to
the report. New entrants to the region in-
clude Corner Bakery Café, Olive Garden,
Five Guys and Steak 'n Shake.
Salt Lake City, Utah, has a ratio of
707 consumers per
restaurant, but that
number is even higher
in the suburbs of West
Jordan (895) and West
Valley City (855). Both
suburbs are experienc-
ing population growth
as well. Salt Lake
City has seen recent
restaurant additions
that include IHOP and
Apollo Burger.
Phoenix, Ariz., has a ratio of 637
consumers per restaurant, but that num-
ber jumps to 698 based on 2021 popu-
lation projections, per the report. The
Phoenix suburbs continue to experience
significant population growth. Peoria has
a ratio of 752 consumers per restaurant,
and the study expects that number to
grow to 843 based on current popula-
tion growth data. Gilbert has a current
ratio of 740 consumers per restaurant,
but projections call for that number to
grow to 867 based on current population
growth data. Freddy's Frozen Custard
and Giordano's have made recent inroads
in the Phoenix market.
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Aceray
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