In case you hadn’t noticed, the McDonald’s on Broad Street is
looking pretty sharp lately. About six months ago, last fall, McDonald’s closed this restaurant for a complete makeover. To begin with they scoured the marble on the front of the building, changed the signage, gutted the dining area to the studs, and replaced all kitchen and serving systems.
They then installed what is considered one of the higher end McDonald’s interiors including tile ceramic tile floors, stainless steel interior signage, modern furniture and dining design, artwork and artistic lighting.
All told McDonald’s corporate invested $2mm dollars in this renovation. McDonald’s is on lease in this property through 2012 with an option until 2022. I think they expect to stay.
McDonald’s is known to be head and shoulders above its competition in the fast food market. Their secret has been to anticipate market trends and act boldly. This significant investment into Newark’s downtown has all the hallmarks of another successful forward looking McDonald’s move.
They see the progress the Booker administration has made to fight corruption and attract much needed attention to Newark and are investing along this rising tide.
Smaller business have seen this as well and are moving in. Recently there have been 5 new retail openings in the downtown and one property slated for conversion to a brew-pub. Dunkin Donuts should be opening its doors on Market Street by the end of April if not sooner.
These are very positive signs in a sluggish market. Newark has a lot going for it and plenty of reason to shine brightly as our economy recovers.
