Restaurant rents, which had eased significantly during the Great Recession, have been rising in the past year and a half, and are beginning to put pressure on the industry’s bottom line. While many parts of the nation are seeing retail rent pressures, one of the more celebrated cases was the June announcement by New York City-based Union Square Hospitality Group that the storied Union Square Cafe would likely move after nearly 30 years in the same location because of lease ...
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