SNL Closes 8th Deal with Shake Shack, Bringing Total to $43M
Leading the way in Shake Shack sales nationally
May 22, 2024 — Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, sold a newly-built Shake Shack in Round Rock, Texas. The buyer was a private California investor seeking to increase its Texas real estate holdings. The seller was a Texas-based developer.
Secure Net Lease’s Matthew Scow and Bob Moorhead represented the seller in the absolute NNN ground lease transaction.
The Shake Shack property located at 1402 North Interstate 35 in Round Rock, TX, is Secure Net Lease’s eighth Shake Shack closing, which have averaged 5.00 Cap rates and exceeded $43 million in total combined deal value. The Dallas-based firm has sold the most retail property in Texas since 2019, according to Costar.
“Completion of this transaction reflects our effective marketing campaign” said Scow. Secure Net Lease was able to achieve a win-win between parties by maximizing collaboration of both outside and internal brokers.”
“While the buyer intended to put some debt on the property during the contract period, they were still able to close all-cash to meet the closing timeline per the requirements,” said Moorhead. “This transaction was smooth and efficient, demonstrating a high level of professionalism and cooperation from all parties involved.”
Shake Shack is a modern day “roadside” burger stand serving a classic American menu of premium burgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer and wine. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has expanded to over 520 locations system-wide, including over 335 in 33 U.S. States and the District of Columbia, and 185 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.
About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.
Secure Net Lease was able to achieve a win-win between parties by maximizing collaboration of both outside and internal brokers.
