|While restaurant reopen timelines are still largely TBD, this industry has a lot of work to do before they’re ready to welcome guests again.|
The virus has impacted the global restaurant scene unlike any other.
While many are concerned about small businesses, local eateries around the country have been hit with an unprecedented onslaught of issues. Food supply delays, serving restrictions, mandatory closures, and a widespread avoidance of restaurants have hit the foodservice industry with curveball after curveball.
Depending on location, some restaurants have managed to stay open by operating solely on take-out or pick-up orders. But, one thing is certain regardless of where you are – restaurants need to rethink the norms of operation that won’t stand in the post-COVID atmosphere.
How will restaurants need to change based on what we’ve learned during COVID? It will take effort, dedication, and some updates to the physical space… and that’s where CRE comes in.
Here’s what re-entry looks like for the restaurant scene:
Rebuilding Trust: Adapting to New Consumer Trends
As a result of the virus, everyone’s mind is filled with microscopic concerns. While we might not have thought much about bacterias and microbes in our environment, we all are now.
This puts a lot of pressure on restaurants. They need to gain the public’s trust back if they want to stay afloat once their doors can open back up again.
According to recent data, consumers say that they want more hand sanitizer dispensers. Consumers also want to ‘visibly see’ staff cleaning high-contact areas often. Employees are expected to wear gloves and masks at all times and single-use condiments and utensils are a must. Even menus should be disposed of after they’ve been used by a guest.
These are just a few of the expectations being placed on restaurants if they hope to regain public trust after COVID.
Hybrid Models: Blending Dining and Retail
Any industry pro has heard the buzz about an upcoming surge in CRE sector blends.
Hospitality and office, retail and entertainment, and even industrial and dining are all possibilities on the horizons of commercial real estate as businesses strive to keep it creative amid changing consumer preferences on brick and mortar.
But, something new is happening during COVID – and it’s a trend that will probably stick around once the virus blows over.
In order to overcome the business stressors related to the country-wide shutdown, many restaurants are adopting new retail-alternatives to stay relevant and keep the profits flowing.
We’re seeing specialty restaurants embarking on pantry sales, local vendors setting up shop in dining areas, and even restaurants transitioning into retail stores to ride out the pandemic.
Even after COVID, these infrastructural safeguards will help prevent restaurants from taking as hard of a hit in future scenarios.
Impact on Physical Space Requirements
Of course, restaurant tenants will have some updated demands for the CRE industry. Many establishments are including a total redesign of dining rooms as a part of their ‘things to do before we reopen’ lists.
The open kitchen concept will be key in regaining consumer trust as public scrutiny is higher than ever.
Restaurants will want to increase the separation between tables post-COVID. This means more space will be required to accommodate the business volume eateries were achieving before the pandemic, so expect to see larger square-footage requirements on commercial properties.
Once the virus is at bay, CRE needs to be prepared to make these ‘new normals’ of dining a reality.
Cleveland, Ohio – May 22, 2020 – NAI Pleasant Valley is pleased to announce that Jeffrey Calig, CCIM and David Hexter, SIOR represented both Buyer and Seller on a 31,237 SF. industrial facility in Streetsboro, OH. Congratulations to Natural Essentials, Inc. on the purchase of their fourth building to accommodate their rapid growth.
Natural Essentials, Inc. is a large manufacturer of hand sanitizer and various over the counter drug products headquartered in Aurora, Ohio.
About NAI Pleasant Valley
NAI Pleasant Valley is the Northern Ohio office of NAI Global, a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their local and global commercial real estate needs.
To learn more, visit www.naipvc.com
Cleveland, Ohio – NAI Pleasant Valley in Cleveland, OH & NAI Robert Lynn in Dallas, TX, both member offices of NAI Global, worked together on the lease renewal of Kintetsu World Express.
Kintetsu is an international air freight forwarding company based in Japan. They were represented by Mark Miller, SIOR of NAI Robert Lynn in Dallas, TX and assisted by David Hexter, SIOR and Jeffrey Calig, CCIM of NAI Pleasant Valley in the lease renewal transaction totaling 33,824 SF at 17820 Englewood Dr., Middleburg Heights, Ohio. Kintetsu has been in its current location since 1999.
NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs – both locally and globally. Our global strength is built on our local leadership. All 3 agents are connected as well through the CCIM & SIOR professional networks.
NAI Pleasant Valley serves as one of Northern Ohio’s largest, most reputable and active real estate brokerages. It comprises the commercial real estate operations of Pleasant Valley and the former NAI brokerages NAI Daus and NAI Cummins. NAI Pleasant Valley offers an extensive range of brokerage services, including feasibility studies and management.
To learn more visit www.naipvc.com
NAI Robert Lynn is the market leader for commercial real estate in the Dallas/Fort Worth area. In 2019, NAI Robert Lynn successfully completed 1,064 sale and lease transactions, totaling over 24 million square feet.
To learn more visit https://nairl.com
In the midst of a global crisis, stressors are everywhere. The pressure is on, the heat is cranked up high, and it’s putting a strain on all of us. Even the bravest of them all is dealing with unconscious worries and fears during this time of uncertainty.
And yet, while the COVID-19 situation continues to weigh down on the world, we’re defying all odds and facing the situation with optimism, strength, and hope. Life is going on. Business is operating as normally as possible as the world fights to remain intact even at what seems like the worst of times.
With the state of affairs as it is, it’s up to us to be the shining beacon of hope for those finding it hard to cope with the stress. Mental health concerns are at a peak as it’s becoming difficult for all of us to keep calm and carry on. In response to these issues, it’s vital for business leaders to support their teams right now.
Here are 5 simple ways to support your team during this, and any other, crisis.
While some of us are seamlessly adapting to work-from-home life, it’s not so easy for others.
It’s important to remember that not everyone has the same atmosphere at home that they may when they come into the office. Disruptions, family interactions, and other responsibilities may make it hard to spend a solid 9-hour shift at the computer.
Don’t be hesitant to give your team breaks and be lenient with timeframes. Providing a little flexibility here can be a massive help for those still settling into the telework reality.
Check-In With Your Team
The circumstances surrounding COVID-19 are changing constantly. Every day brings a hundred updates and every hour is a platform for breaking news, sudden discoveries, and other unexpected changes.
Make sure you’re checking in with your team amidst the chaos. As a leader, it’s important to be up to speed with what everyone is dealing with so you can adapt accordingly.
Unfortunately, this pandemic is taking the lives of family and friends. You never know what griefs and stresses are on your team members’ minds unless you ask, discuss, and share. Open up a safe space for communication that keeps you connected with your team.
Be Open to Accommodations
While we may want to force things into some structure of normalcy, now is not the time to be too overbearing. Business is certainly important, but with a global emergency knocking at our door, it may not be the topmost concern and priority of everyone on your team.
And that’s okay. Team leaders need to recognize that we’re all dealing with our own issues regarding COVID-19, so it’s necessary for bosses to be open to accommodations.
Don’t Exacerbate the Stress
The biggest way that team leaders can support their staff during this crisis is to be a source of light and positivity – not an additional stressor. In this overwhelming situation, the last thing you want to do is make things worse. Be kind, forgiving, and try not to exacerbate the stress.
These lessons will stay with us as we move forward and past the COVID-19 pandemic. While most things will go back to normal, others will continue to be a part of our baseline operations. Hopefully, this heightened compassion within workspace cultures will be a lesson that sticks around.
In truth, we never know what’s going to come our way.
The future is uncertain, but that doesn’t mean we can’t make the most out of a situation once it hits. This lesson is being learned the hard way during the COVID-19 pandemic as the entire business world is simultaneously disrupted.
The crisis is causing constant hiccups to happen here and there, but they’re quickly turning into big problems. Our highly interdependent world is feeling the impacts everywhere – even in the least expected places.
Resultantly, it’s painstakingly clear that we truly are all in this together. It’s up to all of us to do what we can instead of watching the pandemic get worse without lending out a helping hand.
One of the most important lessons for us all is to learn how to pivot during a crisis. When all the plans suddenly fall away, our value is tested by our ability to come up with a new strategy in response to what’s happening here and now.
We’re seeing this happen all around the world. Whether it’s with companies suddenly shifting their focus to produce high-necessity products that can help the world get by, or team’s trying to stay afloat during this difficult time for business; it seems like everyone is making 90 degree turns in response to COVID-19.
Let’s take another look at how the world is responding to the crisis at hand, and what lessons we can learn about the value of adaptability, resilience, and unwavering hope.
Responding to Global Needs
As the COVID-19 pandemic has severely impacted the global supply chain, shortages on common goods are becoming a new norm. Toilet paper, hand sanitizer, disinfectants, and other things the world usually takes for granted have been the first things to fly off the shelves – and, unfortunately, not get restocked.
Even more alarming than sold-out stores are the necessities needed to keep companies up and running. Face-masks and gloves are the two biggest requirements to help warehouses stay open, the workforce healthy, and resultantly, provide endless access to the items that people need.
In efforts to stop the spread of scarcity, many different companies and manufacturers are responding to the needs of the world and making immediate moves to supply these high-demand products… and the teamwork is nothing short of amazing.
Ventilator production by car manufactures and appliance brands have skyrocketed to ensure that ill citizens get the medical attention they need. Alcohol and perfume factories are switching gears to make hand sanitizer. Fashion brands are pumping out protective facemasks for hospital staff.
It’s this kind of innovation and dedication to the collective wellbeing that will keep us moving forward no matter what comes our way.
A Complete Shift in Business Modules
Obviously, companies like Ford and Dyson are not big-name medical equipment companies, nor are retailers Zara and H&M antibacterial mask producers. These brands have all taken a big step fueled by confidence, responsibility, and support.
For everyone involved in the global effort towards safety and security, these efforts have marked a major shift in business modules. This is a pivotal area where businesses are putting their own personal gains aside and using their presence in warehousing and production to shift the tide of COVID-19’s impact.
Stay Calm, Creative, and Optimistic
The only way we’re going to bend the curve of this coronavirus pandemic is to stay calm and find strategic solutions to what we’re facing. We can do this. Remain flexible, be ready to help where you can, and don’t be afraid to change.
Akron, Ohio, April 22, 2020 – Construction of new Office Spec Building located in White Pond Crossing in Akron, OH is on schedule for completion this summer 2020, and the building is filling up quickly. Stacy Tramonte handles the leasing for the new spec building. Stacy has secured national tenant Burns & McDonnell, occupying the whole 3rd floor of the building. Burns & McDonnell is a 100% employee-owned global engineering, architecture and construction firm and is on Fortune’s 2020 list of 100 Best Companies to Work For . Burns & McDonnell is expanding their presence across Ohio with a location in Columbus and now a presence in the Northeast in Akron, OH. Rated a Fortune 100 Best Companies to work for in 2019.
Pleasant Valley Corporation provides a full circle of services as demonstrated in this project with construction performed by Pleasant Valley Corp’s construction division and the leasing and property management handled through NAI Pleasant Valley’s brokerage division. The new spec building is a 45,000 SF office building, with 30,000 SF remaining for lease. Immediate freeway access and visibility, located seconds from I-77 & I-76. An ideal location for Burns & McDonnell.
Pleasant Valley Corporation is family-owned providing Full-Circle Services for Building Owners. Serving clients in 55,000 locations across North America. .
NAI Pleasant Valley is Northern Ohio’s largest, most reputable and active real estate brokerage. It comprises the commercial real estate operations of Pleasant Valley and the former NAI brokerages NAI Daus and NAI Cummins. NAI Pleasant Valley provides commercial real estate services, worldwide. Locally, it serves Cleveland and Akron and the surrounding counties of Cuyahoga, Summit, Portage, Lorain, Medina, Lake, Geauga and Ashtabula, with expanding service for other regions of northern Ohio as well. NAI Pleasant Valley offers an extensive range of brokerage services, including feasibility studies and management.
AKRON, OHIO – NAI Pleasant Valley, a leading global, full service commercial real estate brokerage firm, announced three new hires have joined the firm. Geoff Coyle III, SIOR was hired as Executive Director, Strategy and Operations. Hiedi Winston has joined the firm as Vice President and Frank Zibert as Senior Associate.
“We are delighted to welcome three new members to NAI Pleasant Valley,” said President, Alec Pacella, CCIM. The commercial real estate market continues to create new opportunities for our clients and Hiedi, Frank, and Geoff add an exciting dimension of experience and market connectivity to our growing business.”
Hiedi Winston has significant experience in commercial real estate, specializing in the industrial and retail segments. She joins NAI Pleasant Valley from Hanna Commercial RE. Before that, Hiedi spent many years as Director of a privately-owned real estate company building a portfolio over 250 properties in London, England.
Frank Zibert joins NAI Pleasant Valley with twelve years of experience in commercial real estate as an industrial broker. He also specializes in sale & leaseback transactions. He has completed over 10 million square feet of sale and lease transactions. Frank holds a degree from Ohio University and is also a Licensed Property & Casualty Agent, CLCS (Commercial Lines Coverage Specialist)
Geoff Coyle III has significant experience in commercial real estate, particularly as the Managing Partner for The Ostendorf Morris Company, with an active brokerage in office and multi-family development. After O-M was sold to Hanna Commercial RE, he co-managed for several years moving to an advisory, consulting role. With NAI Pleasant Valley, he will focus on Business Development by developing strategy, identifying and hiring talent, providing structure and guidance, leading high profile assignments and working with strategic clients.”
Geoff is a Past President of the Ohio Chapter of the Society of Industrial and Office Realtors (SIOR). He is a member of the Leadership Akron Alumni Association. He and his wife, Cheryl, are active in AkronReads. He sat on the Boards of The Ohio Ballet, Weathervane Playhouse, Bluebird Lake Recreation Association, and volunteered with the American Heart Association. And he has a Bachelor’s and a Master’s degree from the University of Akron.
About NAI Pleasant Valley
NAI Pleasant Valley is the Northern Ohio office of NAI Global, the leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs, locally and globally.
To learn more, visit www.naipvc.com.