South Florida Retail Report

NEW-TO-MARKET RESTAURANTS

Notable Entrants Miami-Dade County • Red Rooster • Lucky Cat • ZZ’s Sushi Bar • Maple & Ash • Carbone • Etta

The influx of new residents as well as weekly announcements of financial services and hedge fund companies relocating to South Florida, has been followed by the introduction of several new restaurant concepts catering to both middle market and affluent transplants. A major factor for the area’s attractiveness was the fact that Florida was one of the first states to nix restrictions on in-person dining In many instances, New-To-Market (NTM) concepts are South Florida out posts of well established brands from the Northeast or Chicago. Notable restaurants include: Red Rooster (Celebrity Chef Marcus Samuelsson), Lucky Cat (Celebrity Chef Gordon Ramsey), Carbone (Major Food Group) and Maple & Ash (Chicago Chef Danny Grant) Most restaurant transplants have an established following and built in customer base locally. These operators are willing to pay top price for premier spaces. Rents in the region are significantly lower than the rents they are paying back home in California or the Northeast.

Broward County • Fogo De Chao • Sushi Maki • Maison du Crab

Palm Beach County • Throw Social • Avalon Steak • Lionfish • Delray Beach Market

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