According to "Nation's Restaurant News" the 10 strongest retail markets for restaurants are:
1. Washington, D.C. 2. San Francisco 3. New York City 4. Boston 5. San Diego 6. San Jose/South Bay 7. Baltimore 8. Philadelphia 9. Seattle 10. Pittsburgh
ARKR of course has locations in Washington D.C., NYC, and Boston.
The report evaluates aspects of shopping center markets in more than 40 metropolitan areas, looking at vacancy rates, absorption, construction and rental rates. The authors also looked at macroeconomic trends, such as unemployment rates, housing starts and income growth, as well as overall retailer demand.
“D.C. is off the charts,” Brown said, “and it’s spilling over to the whole Eastern seaboard.
Maybe ARKR snatched up locations in NYC at almost the perfect time.