Restaurant properties: Are they still in demand? [South Florida]
What’s the outlook for restaurant properties? Two brokers, Richard Ruvo of Port St. Lucie-based All Florida GMAC and Jim Traina of Americas Realty in Stuart, offered their perspective.
Q. Are restaurant listings up?
Ruvo. There are a lot more restaurants on the market now. I’d say listings are up about 20 percent. Sales are up too.
Traina. I wouldn’t say listings are up. We’re hearing more complaints about the economy. Business (restaurant revenue) is down. They’re saying season dropped off early.