Why Most Food Halls Flop (And What to Do Instead) | Episode 74: I Own a Shopping Center, Now What?
Description
Thinking of turning that vacant Dollar Tree into a food hall? Hit pause—this episode might save you a fortune.
Food halls are trendy, flashy, and tempting—especially when you’re sitting on 5,000 to 10,000 square feet of empty space. But after seeing too many landlords lose big, I’m here to sound the alarm. In this episode, I break down why most food halls fail, the false promises they offer, and what you should consider before signing on to build one. From startup tenant churn to high buildout costs and low foot traffic, I share real examples (including failed projects from close friends) and challenge the food hall hype with a dose of truth. If you're serious about NOI, you need to hear this.
Key Takeaways:
- Don’t default to a food hall just because you have a large vacancy
- Buildout costs are massive; especially without a strong operator
- Most food hall tenants are startups (and risky ones at that)
- Failure rates remain high, even in trendy concepts
- Location is everything: food halls only work with major traffic
- Tourist-heavy areas offer better chances of success
- Talk to real operators and visit proven sites before investing
- A vacant anchor space doesn’t equal a food hall opportunity
- There are better ways to fill space; don’t fall for the fad
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