Food and Beverage
Wheelhouse, a new nautically-themed American restaurant from the Georgetown Events Hospitality Group, is preparing to open in Washington, DC, this spring. The 4,500-square-foot venue at 5712-14 Connecticut Avenue will offer classic comfort foods and seafood, with operations expected to begin by the end of April.
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As luxury brands delay major commitments in Hong Kong, newcomers from Asia and Europe are taking advantage of cheaper rents to enter the retail sector, particularly in food and beverage. Taiwanese chain Nap Tea exemplifies this trend, drawing long lines and expanding rapidly despite high costs. Property consultancy Cushman & Wakefield reports more than 90 non-local brands opened in the first three quarters of the year.