Andelman Posted June 19, 2012 Share Posted June 19, 2012 Is it just me, or does it seem like there is a lot of restaurant closings over the past 3 months? Seems like everytime I tune into DR.com, Facebook, Eater, etc... there is another announcement of a place closing down. More so than I can ever remember in the past.... I can only offer my sentiments to those that have had to close up shop.... Link to comment Share on other sites More sharing options...
DonRocks Posted June 20, 2012 Share Posted June 20, 2012 Is it just me, or does it seem like there is a lot of restaurant closings over the past 3 months? Seems like everytime I tune into DR.com, Facebook, Eater, etc... there is another announcement of a place closing down. More so than I can ever remember in the past.... I can only offer my sentiments to those that have had to close up shop.... Yes, there are a higher than normal amount of closings. However, I've been making it a point to stay on top of them in recent weeks - this, opposed to reporting openings. Why? Because I don't want to start threads. Why? Because I don't want my name plastered all over the place. I'm trying to capture history, and am stepping back to allow others to break opening news because I've decided that's a chase I don't want to pursue. Don't let it get you down - lots and lots of places are opening (think about it - how many closings are there that result in vacancies? Not many.) Link to comment Share on other sites More sharing options...
dcs Posted April 21, 2017 Share Posted April 21, 2017 The song remains the same..... Why is Arlington Losing So Many Popular Restaurants? by Lisa Rabasca Roepe, April 17, 2017, in Arlington Magazine. 1 Link to comment Share on other sites More sharing options...
DaveO Posted April 21, 2017 Share Posted April 21, 2017 3 hours ago, dcs said: The song remains the same..... Why is Arlington Losing So Many Popular Restaurants? by Lisa Rabasca Roepe, April 17, 2017, in Arlington Magazine. As a former retail/restaurant real estate broker/agent and as someone who does work with the restaurant industry that, IMHO, is an excellent article and perspective. It includes some national data, information with which I was unfamiliar. What is occurring in Arlington, DC, and around the suburbs with restaurants opening and closing is not unique to this area. The historical info on rents in the Wilson Blvd corridor is a range that I've seen from the early 90's to today and with which I would agree. Pretty freaking amazing. 1 Link to comment Share on other sites More sharing options...
ktmoomau Posted June 6, 2018 Share Posted June 6, 2018 Speaking of closings, it seems there is another rash of closings in the DC area, or is it just me? Link to comment Share on other sites More sharing options...
DonRocks Posted June 6, 2018 Share Posted June 6, 2018 19 minutes ago, ktmoomau said: Speaking of closings, it seems there is another rash of closings in the DC area, or is it just me? Leases are coming due, and restaurants aren't renewing. This is probably a good time to reread this. In particular, click on the last link there, and notice what was happening 10-years ago. Link to comment Share on other sites More sharing options...
Pool Boy Posted June 9, 2018 Share Posted June 9, 2018 From my less knowledgeable point of view, I think restaurants often make bets on real estate and locations where they THINK they can afford and make a buck IF their hunch is right (people moving in with disposable incomes they are willing to spend). I remember my wife and I wanting to go to Masseria (delicious. but expensive and see no reason to go back) , I had no idea it was in the food warehouse district that Union Market had dived in to. It seemed at least party crazy, but given the building activity there now, it seems smart. By the time all of the building finishes up in a location, those leases come up for renewal at far, far higher rents, and these restaurants either close or have to move - no easy choice. The only thing that can keep a restaurant in a location for a long time is if they own the property, right? Link to comment Share on other sites More sharing options...
DonRocks Posted June 9, 2018 Share Posted June 9, 2018 49 minutes ago, Pool Boy said: The only thing that can keep a restaurant in a location for a long time is if they own the property, right? Or if they're successful enough to renew the lease. (Your point-of-view is not less knowledgeable.) Link to comment Share on other sites More sharing options...
DanielK Posted June 9, 2018 Share Posted June 9, 2018 12 hours ago, Pool Boy said: The only thing that can keep a restaurant in a location for a long time is if they own the property, right? Why it warms my heart that Tom Power had the foresight to buy the two properties that Corduroy and Baby Wale reside in. 2 Link to comment Share on other sites More sharing options...
DaveO Posted June 9, 2018 Share Posted June 9, 2018 1 hour ago, DanielK said: Why it warms my heart that Tom Power had the foresight to buy the two properties that Corduroy and Baby Wale reside in. ...and that isn’t easy either as it requires up front capital. But it sure can eliminate “rent rate risk” which has been hitting restaurants who may well have had affordable rents in the first period of a long term lease but face incredible increases due to unbelievable market property value changes over the decade or so of an initial lease. 1 Link to comment Share on other sites More sharing options...
DonRocks Posted June 12, 2018 Share Posted June 12, 2018 On 6/6/2018 at 4:09 PM, ktmoomau said: Speaking of closings, it seems there is another rash of closings in the DC area, or is it just me? I'm noticing more closures than at any time since before the Great Recession. Link to comment Share on other sites More sharing options...
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