Portfolio Insights: Restaurants
The Minneapolis/St. Paul Business Journal has reported
on the shortage of restaurant real estate, particularly second-generation spaces in the outskirts of urban centers. It’s a trend we have also noticed at WMI.
We have 60 restaurants within our approximately 100-building portfolio. We currently have no existing restaurant vacancies in our portfolio, and as the Minneapolis/St. Paul Business Journal reports, building out a new restaurant can quickly become costly. We tend to see restaurants being sold privately and assumed by a new owner, allowing them to save money on construction and instead focus on smaller renovations and rebranding. Our final three second-generation restaurant spaces were leased between the end of 2024 and the start of 2025.
Many of the restaurants in our portfolio have unique features and locations. Woodbury’s Birdi Golf and Eagan’s Mulligan’s Indoor Golf locations are both coupled with indoor golf simulators. Colonial Market in Minneapolis and El Hornito in Brooklyn Park both serve Mexican cuisine inside their grocery store businesses. Throughout our portfolio of properties, we have a handful of national restaurants, such as Panera Bread, Jersey Mike’s, Leeann Chin, and Punch Pizza; local chains and franchises like Rocco’s Pizza, yum! Kitchen & Bakery, and Taco Libre; and local, family-owned ventures like Satay 2 Go, O’Malley’s Pub, Lulu’s Salsa, and Big Dipper Creamery.
To learn more about the wonderful eateries we work with, take a look at the infographics and list below. We feel fortunate to work with such a wide variety of restaurants and entrepreneurs!
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To take a virtual tour of Riviera Maya Cantina in Maple Grove, click here: https://my.matterport.com/show/?m=3Jir6JWSPZq
Although we don’t have any available restaurant space, we do have office, retail, and industrial suites for lease near many of these delicious restaurants!
Arbor Lakes – Riviera Maya Cantina
City Centre East – Acapulco, Leeann Chin, O’Malley’s Pub, Panera Bread
Eagandale Corporate – Mulligan’s Indoor Golf
Evenson Building – Finnish Bistro
Falcon Crossing – Topper’s Pizza, Jimmy John’s
Farmington 115 – Chill Studio, Weng’s Kitchen
Hi-Lake Shopping Center – Colonial Market, Little Caesars Pizza, Pineda Tacos, Sumo Grill & Buffet
Lexside Shops – Starbuck’s, Jersey Mike’s
Lyndale Station – Caribou Coffee, Firehouse Subs, My Burger
Park Crossing – Lulu’s Salsa, Pho 79, Erbert and Gerbert’s
Pinnacle Ridge – El Azteca, Ooka Bistro, Satay 2 Go
Valley Creek Commons & Valley Creek Professional – Bruegger’s Bagels, Caribou Coffee, yum! Kitchen and Bakery, Punch Pizza
Valley Creek Mall – Andiamo Italian Ristorante, Birdi Golf, Keys Café, Subway
