Big D Among Top 5 Restaurant Markets in US
Dallas ranks in the top five for the cities for dining outside the home and that’s OK for Falcon Realty Advisors national restaurant accounts director Cal Marsh (left, with Falcon restaurant and entertainment group president Michael Walters). That stat helps explain why DFW is one of the most competitive markets for restaurant spaces. It can be a beauty contest for developers and landlords with several concepts vying for the best space. New developments are choosing concepts to provide a niche fit for specific parts of the projects, such as the entertainment area of a mixed-use project. The tenant mix is a crucial piece in making a successful center, Cal says.
Michael says the DFW market isn’t oversaturated with restaurants, either, largely because of the companies and population relocating to the area. During the downturn, Cal says, people traded down from full service to the fast-casual concept. The quality of the food and the experience has gotten better with each new concept and as they evolve, people have found it's quick, affordable and a high-quality product.
Michael says his team reps a number of fast-casual concepts, including ModMarket, which features farm fresh natural ingredients and a gluten-free menu. That concept just opened its fourth DFW location in Southlake this summer and has a new store under construction at Plano and Renner in Richardson in a Whole Foods-anchored center. Other DFW locations are in the works (six done and two more coming) with a build-out expected to be around 15 to 17 sites. Another concept, Spin Pizza, plans to open more. It has three open and a fourth under construction on SMU Boulevard with three LOIs out, as well, Michael says. Expect to see more Velvet Taco sites as well across Texas. Plans call for at least a couple more locations in DFW in the next two years.