EXCLUSIVE: Sizzling Steakhouses
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|Who are the hot retail tenants? In one very specific submarket, steakhouses. Mid-America Real Estate Corp crunched the data, such as lease terms and exit cap rates, and came up with the top five chains in the nation for investors. It shared the results with Bisnow first. Mid-America investment broker Tom Fritz, who co-authored the study with colleagues Bill Wright and Mark Goldberg, explains that net-lease investors want well-located restaurants, a proven business model, and a management-free investment. All of the study’s top five steakhouses provide these things, “and investors are willing to pay aggressively for them.” The five (in alphabetical order) include Logan’s Roadhouse, Lone Star Steakhouse, Longhorn Steakhouse, Outback Steakhouse, and Texas Roadhouse.|