Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

High Growth in Triangle CBD Fueling Food Hall Trend

7/22/2019

The national food hall trend is in full swing. By the end of 2020 the U.S. is expected to have approximately 450 food halls in operation, which is a nearly fourfold increase from 2016. The convergence of foodie culture and the sharing economy have found a compelling marriage that is attractive to landlords, restaurateurs and customers.

Food social stock img

“For developers and landlords, the rise of the food hall anchor in residential and mixed-use developments, shopping malls and office towers, has been spurred by a new type of tenant that attracts consumers hungry for authenticity and an experiential lifestyle.” – Food Halls 3.0: The Evolution Continues

High growth in the Triangle’s central business districts (CBD) is largely fueling the food hall trend. Demand for space in these areas is at an all-time high, putting pressure on developers to ramp up activity. While food halls in the Triangle only account for roughly 70,000 square feet (sf) of completed space currently, this number is poised to rise with more opportunities in the nearly 1.6 million square feet (msf) of office space proposed or currently under construction in the CBD.

Morgan Street opened in August 2018 in the heart of downtown Raleigh’s Warehouse District, adjacent to the new Union Station, the 17-story Dillon mixed-use development and Citrix. The food hall features over 20 different local eateries, restaurants and food retailers in 20,000 sf. Stalls and retail stands vary in size from 30 to 550+ sf.

Most recently, Transfer Co. opened in early 2019 in historic Carolina Coach Garage and Shops, a five-minute walk from Fayetteville Street. The food hall is comprised of more than 50,000 sf of renovated warehouse and newly built space for food producers, makers, vendors, restaurateurs, their guests and the local community.

Finally, Durham Food Hall is slated to open by the end of the summer at Liberty Warehouse in the Central Park district of Downtown Durham. Totaling 15,000 sf, the food hall will include 10 mini eateries, three private event spaces and two bars. Overlooking The Auctioneer Bar and the main Hall is a 2,300-sf mezzanine, with even more space to host meetings, private parties and events of all sizes.

Cushman & Wakefield’s new report, Food Halls 3.0: The Evolution Continues, takes a deep dive into the food hall trend across the United States. In particular, it explores some new developments in the sector:

  • Expansion into shopping malls, college campuses and office towers
  • Partnerships with craft brewers
  • Growth of live performance, entertainment and community-driven spaces inside food halls
  • Evolution in food hall design enabling more efficiencies for vendors and greater common space
  • Potential areas of risk for investors and developers 

For more analysis on the future of experiential retail, check out Cushman & Wakefield’s Are You Experienced? The Great Retail Reinvention.

Related Insights

012022USRetailInsightcard
Article • Retail

U.S. Holiday Sales Boost Confidence for 2022

Early results on the holiday shopping season suggest consumers proved to be resilient and flexible just as they have been throughout the pandemic recovery, jolting holiday sales to a banner year in 2021
James Bohnaker • 1/7/2022
Five-Fast-FACTS-LinkedIn_740x456
Article • Office

San Francisco Q3 Five Fast Facts

Read our 5 Fast Facts to learn more about the key trends that impacted the market in the third quarter.
Robert Sammons • 12/6/2021
2021-What-Rising-Inflation-Means-for-CRE-Investing_webcard
Article • Retail

Maintain the Chain – Real Estate Strategies for Peak Season and Beyond

Our panel of logistics and retail experts joined us for a discussion about the ongoing challenges caused by supply chain disruptions and record-breaking industrial real estate market conditions.
Nicole Bennett • 11/17/2021

Ready to talk?

Our professionals are ready to provide further details on this and many other topics.

Cushman & Wakefield uses cookies to analyze traffic and offer our customers the best experience on this website. Close this dialog to confirm your consent, or visit this page to learn more:
Cookie Notice

MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
AGREE ALL
REJECT ALL
SAVE SETTINGS