New Eateries Set to Replace Red Lobster and TGI Fridays
Red Lobster and TGI Fridays are closing numerous locations due to bankruptcy, creating opportunities for fast-food and fast-casual chains like Chick-fil-A and Chipotle to take over these prime real estate spots. The shift is driven by changing consumer preferences towards more affordable and convenient dining options, such as drive-thrus, which are more profitable and require less staff. The demand for vacant restaurant spaces is high, with a low retail vacancy rate and limited new construction, making these locations attractive for new tenants.
