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2023 Record Year – 89 Deals in 50 Cities

By in 2024 - Volume 26

2023 was another record year for Restaurant Realty Company (RRC) tying 2022 with 89 deals completed in 50 California cities.

What type of food and beverage businesses did we sell and/or lease in 2023?

The businesses that sold and/or leased included the following categories.

1) A number of full-service restaurants with and without bars,

2) 6 deals included the real estate and 5 of these included businesses.  The 6th building we sold was to the business owner we previously sold the business to two years earlier.

These real estate transactions include as follows:

a) Park Avenue Pub in Chico – a restaurant and bar;
b) The Green Door in Napa – a bar;
c) Buffalo Bills Brewery in Hayward – a full service restaurant and brewpub;
d) Geppetto’s Pizza in Burney – a pizza restaurant;
e) Roger’s Frosty in Cottonwood – a burger and dessert restaurant;
f)  The Building at 350 W. Main St, Merced – we previously sold the Bella Luna Italian restaurant to the same buyer two years ago;.

3) A number of smaller businesses including businesses selling ice cream, yogurt, gelato, coffee, boba tea, fresh juice and deli and sandwich shops.

4) Several pizza operations with a large emphasis of their business being take-out and delivery.

5)  A cookie manufacturing company.

6) Several franchise restaurants.

7) A number of bar cocktail lounges.

8) We were hired by many landlords to lease vacated restaurant spaces and in some cases we leased empty spaces to be occupied by future food and beverage tenants.  For all of our 2023 completed transactions we leased over 180,000 square feet of commercial space.

9) A couple of breakfast and lunch businesses.

10) Several sushi restaurants.

11)  2 unit poke & sushi restaurants and 2 unit cheese & wine stores in 4 separate locations.

As a result of our professional brokerage team and our state-of-the-art marketing system Restaurant Realty has matched its 2022 record of the most deals completed in one year.

This past year we have closed 89 deals in the following 50 cities:

Southern California Cities: Los Angeles (2), Glendale, Murrietta (2), San Diego (4), Studio City, San Pedro, Santa Monica, Ventura, San Marino, Mission Viejo, Simi Valley

Northern California Cities: San Jose (2), San Francisco (12), Oakland (2), Loomis, Chico, Napa (2), Modesto (2), Redwood City (2), San Carlos, Mill Valley (2), Murphys, Folsom, Dublin, Point Richmond, Berkeley (2), Novato (4), San Leandro, Livermore, Tehama, Alameda, Santa Rosa (2), Hayward (2), Pittsburg, Lincoln, Roseville (3), Burney (2), Los Altos, San Rafael, Rio Linda, Merced, Castro Valley, Palo Alto (2), South Lake Tahoe, Cottonwood (2), Concord, Moraga, Clayton, Sebastopol.

Other activities which helped RRC expand its exposure to buyer and seller markets include the following items.

1. We added new agents in Southern California.

2. Restaurant Dealmaker Show – In 2023, we continued our second year of the Restaurant Dealmaker Show, a monthly zoom podcast co-hosted by Steve Zimmerman, the CEO, Founder and Principal Broker of RRC. Steve co-hosts each episode with a different co-host including industry experts. To date, we have produced 25 episodes yielding 225,000 views. The show airs live on YouTube and Facebook and videos are available on demand through YouTube, Facebook, Linkedin and Restaurant Realty’s website.

3. We’ve participated as an expert witness being hired by numerous attorneys throughout the state to testify in depositions and in court on various legal matters ranging from partnership disputes, lease disputes and various other operational issues.

4. Our Principal Broker conducted a workshop in transferring ABC licenses at the annual California Association of Business Brokers (CABB) Conference.

5. We continue to invest in our aggressive marketing and advertising programs, spending hundreds of thousands of dollars a year with the following programs – Google, YouTube, and Meta (Facebook and Instagram).

a. Internet Marketing Activity – all our listings appear on our website (restaurantrealty.com) and all major business and real estate websites including numerous listing engines.

b. E-newsletters are sent out twice weekly with updated listings sent to over 75,000 buyers in our data base.

c. Social Media – we regularly post our listings and other pertinent information on Facebook (16,500+ followers), LinkedIn (13,000+ followers), Instagram, X/Twitter, Google and YouTube.

d. Search Engine Optimization (SEO) – we invest heavily in key words related to our industry so when doing searches RRC pops up throughout the state.

e. Other ongoing marketing programs include as follows:

1) Seller Referrals from third party brokers & agents, landlords, accountants, attorneys and past buyers and sellers;
2) Targeted email marketing campaigns to get added exposure to buyers & sellers;
3) The Restaurant Dealmaker Show (discussed above);
4) Restaurant Rap & Restaurateur of the Quarter articles published quarterly; and
5) Specialized ‘targeted’ marketing campaigns which allow us to contact potential buyers via print media, direct mail, email and phone.

All of Restaurant Realty’s Agents and Brokers are well equipped to deal with a diversified group of sellers and buyers. For further information, please contact Principal Broker Steve Zimmerman at steve@restaurantrealty.com or call 888-995-9701.

Now celebrating our 28th year, Restaurant Realty Company® has a successful track record helping over 3,200 clients in completing over $1,000,000,000 (billion) in Business and Real Estate transactions including the following: Selling/leasing over 1,600 restaurant, bar and/or nightclub businesses, Selling over 70 related commercial buildings,  Leasing over 3 Million square feet of commercial space and Completing over 5,000 valuations. The majority of our staff have either owned and/or managed restaurantsOur deep experience as operators means we understand your business from the inside out. Restaurant Realty has Closed Escrow and/or Leased 325+ Deals since Covid. 

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