Shopping mall owners used to believe that food courts were an amenity for customers who came out to see the stores. That wisdom now seems to have been stood on its head, writes Jon Banister at bisnow.com.
A new report from Cushman & Wakefield projects the food hall market will nearly triple in size by 2020.
“Shopping center owners are realizing that you’ve got to do everything you can to get people to your stores, and food brings people out,” said Garrick Brown, Cushman & Wakefield vice president of retail intelligence. “It has the same draw of retailers, if not greater. There’s urgency with developers to get in on the food hall craze.”
Having food halls as an anchor has not only helped drive leasing for other components of mixed-use projects, it has also made properties much more valuable and sought-after for acquisitions.
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