Commercial Real Estate, Capital, Insurance, Leasing & Management

OBJ: The pandemic has given local food trucks more brick-and-mortar opportunities. Here’s why.

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Joel Feliciano drove his food truck for months before he discovered a deal to park his business.

The CEO of Orlando-based health-focused eatery Avofuel LLC saw his revenue grow during the pandemic and wanted a permanent place to cater to his customers. He found a spot near the Florida Mall at 1718 W. Sand Lake Road where the landlord offered him a lease that was more favorable for his business than if he would have negotiated a lease before the pandemic. He plans to open the restaurant next summer.

“Right now, not a whole lot of people are looking to get into this type of business, and a lot of landlords are willing to negotiate terms of a lease,” Feliciano said.

Terrence Hart, senior director at Franklin Street of Orlando, said he’s also seen an uptick in food truck operators and other mom-and-pop restaurants looking at physical locations during the pandemic. These small businesses have found many second-generation restaurant spaces, which are usually more affordable to build out for new concepts.

Landlords also find comfort in the social media following of these local businesses — and are willing to take the risk signing leases with concepts with sizable digital followers.

“Owners are more open to these grassroots restaurant concepts that are community driven,” Hart said.

Read the full article from the Orlando Business Journal.

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