Leading the way in the Orange County retail recovery is food-- especially quick-service restaurants. (Did you ever think you'd be so thankful for burritos?) Coreland Cos director of retail brokerage Matt Hammond tells us that even throughout the recession, lunch crowds and families were drawn to fast, affordable, healthy alternatives.
Quick-service brands do well in Southern California because consumers want the convenience of fast food but also the quality of casual dining, Matt says. He also sees quick-service taking business away from traditional fast-food restaurants.After all, you have to get something to eat when you're running from one baseball game to the other, and youd rather not take your kids through the drive thru.
Saturation isnt a concern for incoming brands, Matt adds, because consumers are now eating out more. (The number of people who cook is inversely proportional to the number of cooking shows on TV.) Over the last year, Tustin-based Coreland has done 20 quick-service restaurant deals at its shopping centers. Most recently, Matt repped Charlie Lyons Properties in lease transactions with Chipotle, Jersey Mikes and Starbucks at the newly re-developed 5970 Orangethorpe in Buena Park. All of the three inked 10-year leases. Commercial Wests John Romm repped Chipotle and Jersey Mikes, while Epsteen & Associates Jason Gordon repped Starbucks.
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