Restaurant Sky Isn't Falling

During last week's Bisnow Atlanta Restaurant Summit, pioneering local restaurateur Fifth Group's Steve Simon said our story here about his concerns on a restaurant bubble were overstated. In fact, every restaurateur has a different skill set and many will succeed. But one factor to success is the landlord: “I want to know that the landlord values me versus the guy who just writes him a check for 20 grand a month,” Steve says.

Vantage Realty Partners' Chris Carter echoed a more bullish sentiment on Atlanta's crowding restaurant scene: “Some say that we're overbuilding. I don't necessarily agree with that. You're always going to have fallout... You've got to find that guy or that team who can pull it all together."

Choate Construction's Brian Bollins says landlords and developers can do a lot for restaurateurs, guiding them on a project's surrounding demographics and what themes and foods might work. But most important is a developer create an “experience” for the patron from the moment she parks til she leaves the dinner table. Gone could be the days where you park in front of a restaurant at a strip center—instead park in a mixed-use project and walk to your destination.

Our first panel included Chris, North American Properties' Ron Pfohl, Brian, Legacy Restaurant Partners' Jeff Sime, Seyfarth Shaw's Gale Evans (who moderated), and Steve. Just like apartments and offices, restaurants should court Millennials. While many don't necessarily have deep pockets, they do use those pockets for what matters when it comes to restaurateurs, Steve says: “They prioritize food much more than any of us did in our 20s.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

Furniture Outlet The Dump Is Getting Dumped In Atlanta

Simon Approaching End Of The Road With Struggling Suburban Boston Mall

Chipotle Adding Hundreds Of New Locations Worldwide

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Stockdale Capital Partners, Hamilton Lane Acquire Chino Hills Shopping Center For $157M

Bucks County Mall Closing As Owners Prepare Redevelopment Plans

Battersea Power Station Reveals Plans To Double Development Again

Crystal Residences Offers A Model For Delivering New Housing And Lasting Community Benefits In Coral Gables

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Apartments Kick Off New Era Of Mixed-Use Activity In Philly Navy Yard

Stephen Ross Expands Palm Beach Empire With Massive Boca Raton Campus

Thor Equities Plans $1B Data Center In North Georgia: The Atlanta Deal Sheet