Restaurants were a hot topic at this year’s ICSC@Florida dealmaking conference, with new-to-market brands eyeing the Orlando MSA and several existing users planning major expansions.
“What we’re seeing is a lot of the larger restaurants are coming back to market,” said Jorge Rodriguez, executive VP of retail for Colliers Orlando.
A lot of second-generation restaurant space doesn’t fit today’s business model, as full-service restaurants consolidate space to eliminate tables and focus more on take-out and meal delivery. “They’re doing less square feet because rents are so high,” Rodriguez said. “But also the Uber Eats and whatnot, some restaurants are doing 30, 40% of sales just out of that.”
Older restaurants, like the two Applebee’s restaurants that closed in SoDo and Maitland and the Macaroni Grille in Winter Garden, are over 6,000 square feet and are no longer sustainable for national brands.
“What I’m saying is, if we find ourselves looking at our portfolio and it’s a 5,000-square-foot or larger and they’re trending $2 million, $2.5 million a year in sales, more than likely that could be coming back to market, which is good and bad, right? Bad because you get a vacancy, but there is a lot of space out there. So, it could be a positive, too.”
Those spaces are opening up to local concepts and redevelopment. That was the case at Winter Garden Village, where Seasons 52 razed the old Macaroni Grille to build its prototype restaurant that will open later this month.
Buca di Beppo in Maitland was also demolished in the last year and will be replaced by 8,000 square feet of new multi-tenant retail, anchored by Giovanni’s Pizzeria & Kitchen. Another new restaurant concept set to open in Maitland this year is Naya Comida + Barrita at Trelago Market. Developed by the team at Agave Azul, the restaurant focuses on coastal Mexican cuisine.
“Their build-out is incredible,” Rodriguez said. “I don’t know how many millions of dollars they spent on the buildout, but it’s overwhelming in a good way. Everything is tactile.”
Fast-casual and quick-service restaurants are also eyeing Orlando, both for expansion or market entry.
Utah-based “dirty soda” chain Swig will open its latest store at Hamlin on Sept. 21, followed by another in Golden Eagle Village in December. Franchise owner Chase Herbert told GrowthSpotter he has more stores in the development pipeline near UCF on University Boulevard and at Seminole Towne Center, and he’s targeting Lake Nona, Kissimmee and St. Cloud for future locations. Swig also plans to open a corporate-owned store in Oviedo, he said.
The drive-through line is pictured at SWIG soda shop in Clermont on Monday, June 30, 2025. (Stephen M. Dowell/Orlando Sentinel)
Reno, Nevada-based Port of Subs is also making a big push in Central Florida. The company signed Christopher and Georgia Goddard in 2024 as regional developers for the Orlando-area franchise, and they’ve spent the last two years working toward opening the first of their 20 stores.
“We have four LOIs out, and we should be able to finalize them in about two weeks,” Georgia Goddard said. She said they’re targeting locations in Kissimmee, Sanford, near UCF and in downtown Orlando. “We feel like the downtown location will be really important for our catering business,” she said.
The Goddards held several productive meetings at ICSC@Florida, alongside their new broker, Aaron Dan from TSCG.
Dan, who leads the firm’s newly opened Orlando office, said he’s met with a number of brands that are looking to expand to Central Florida.
7th Street Burger is officially opening in Southie, Boston TOMORROW (4/9) at 11 am!! 📍475 W Broadway, Southie, MA See you there 🍔🔥🍟
♬ Feeling Good – Michael Bublé
7th Street Burger: The viral burger joint has taken over New York and is making its way down the East Coast, having expanded to New Haven, Boston, Philadelphia and Washington D.C. The menu consists of ultra-simple, perfectly crispy, and deliciously greasy smash burgers, fries and Coke, all at an affordable price. The director of real estate told GrowthSpotter they’re looking at Florida as a potential expansion market but have no specific plans as of yet.
&Pizza: This Washington, D.C. pizzaria concept offers unique, oblong pies in a fast-casual, made-to-order format. Customers can select from a variety of toppings, finishes and drizzles.
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261. Follow GrowthSpotter on Facebook and LinkedIn.