Restaurateurs are buying property to offset rising rents

• As a result, what's left are corporate-backed chains instead of locally-owned and operated establishments.

Case in point: J. Wakefield Brewing in Wynwood closed in 2024 and Panther Coffee's Sunset Harbour location closed after 13 years in February — both owners citing increasing rents.

• Matt Kuscher, owner of the now-closed LoKal, closed the Coconut Grove establishment after more than a decade because his rent was increasing by 50%.

Yes, but: In 2022, Kuscher bought a Wynwood building to combat rising costs set by landlords and house a cocktail bar, a tattoo shop and affordable housing reserved for hospitality workers for the next 50 years, the outlet reported.

• The owner of El Patio Wynwood and Mayami Wynwood also purchased his current properties, telling the Real Deal he is "here to make sure that our business is safe and that we can continue for 20 more years."

What's next: A growing trend is operators partnering with investors to purchase spaces together, ensuring restaurant owners are protected from losing their locations after the buildout, the outlet reported.