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Demand for Restaurant Space in California Off to Slowest Start Since 2020

Restaurant Move-Outs Rise 20% in the First Five Months of 2024
The impact of the recent enactment of a $20 minimum wage for fast-food workers in California appears to be having a ripple effect in recent restaurant closings and declining demand for space. (Getty Images)
The impact of the recent enactment of a $20 minimum wage for fast-food workers in California appears to be having a ripple effect in recent restaurant closings and declining demand for space. (Getty Images)
CoStar Analytics
June 14, 2024 | 7:49 P.M.

After three consecutive years of record spending at bars and restaurants, fast food and casual dining and beverage establishments are facing tough decisions as operating costs rise and sales growth moderates.

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