When it comes to commercial real estate, the reasons for hiring real estate partners are often clear: these professionals not only know how to invest in a REIT and other useful information about this type of investment, but are experienced in every aspect of managing commercial property, from choosing an establishment to managing cash inflows and outflows. This experience is often so effective that real estate partners can have a significant impact on their local communities. In the case of one group in New Jersey, this effect has taken the shape of several restaurants that have become key to the area’s culinary scene.
The Restaurant Development Group (RDG), based in Jersey City, has used their trained eye for real estate to launch a number of diverse and unique eateries in their community. Comprised of real estate partners Andy Siegel, Michael Garcia and Geza Gulas, the group currently runs a Southern barbecue-style bar called Lucky 7 Tavern, as well as a Mediterranean restaurant called Satis Bistro. The group is also planning to open a third business, called Raval Tapas Bar and Cocktail Lounge, in early February.
However, the group’s success isn’t only measured in the number of restaurants they have been able to open: in 2012, Satis Bistro won the Critic’s Choice award for “”Best New Restaurant in New Jersey” from the New Jersey Monthly. The restaurant also earned praise from both the Wall Street Journal and the New York Times. And while Raval’s has yet to open, the RDG has successfully drummed up interest in the new business after offering samples of the restaurant’s Spanish-style fare at a Jersey City event in early December.
Despite their success, RDG says they have no plans to halt their progress. Currently, the group is considering expanding their existing locations in Central New Jersey and Washington, D.C. If you are wondering “should I invest in property,” take their story as inspiration: contact real estate partners in your area today. More like this.