Leases  ·  Office

Shake Shack to Open 27K-SF HQ and Flagship Restaurant in the West Village


How about a new office with those fries?

Burgers, fries and shakes joint Shake Shack has signed a 27,000-square-foot lease for a new headquarters and flagship restaurant at 225 Varick Street in the West Village, according to a news release from Cushman & Wakefield.

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burgers Shake Shack to Open 27K SF HQ and Flagship Restaurant in the West Village
Shake Shack burgers.

The new digs at the building between Clarkson and West Houston Streets will feature a test kitchen, according to the release. A C&W spokeswoman declined to disclose the asking rent in the 15-year deal.

Shake Shack’s test kitchen and a training center will be in the lower level, the restaurant will occupy a portion of the ground floor and the offices will be on part of the third floor. It plans to relocate its headquarters from its current 10,066-square-foot digs at 24 Union Square East between East 15th and East 16th Streets in spring 2018. The new restaurant will open in mid-2018.

“Shake Shack selected a high-visibility, flexible, moderately priced location and space, with an innovative and talented ownership team to grow its global business,” Mark Weiss of C&W, who represented Shake Shack, said in a prepared statement.

A CBRE team led by Paul Amrich handled the deal for Trinity Hudson Holdings, the landlord of the property. A spokeswoman for CBRE didn’t not immediately return a request for comment.

primaryphoto19 Shake Shack to Open 27K SF HQ and Flagship Restaurant in the West Village
225 Varick Street. Photo: CoStar Group

The first Shake Shack opened as a permanent kiosk in Madison Square Park in 2004. Today there are 134 Shake Shacks around the world, 75 of which are company-owned and 59 that are licensed, according to the company’s second-quarter earnings report made public in August.

The burger chain became a public company in January 2015 with founder Danny Meyer as its chairman of its board.  The company’s stock price is currently around $32, higher than its initial public offering price of $21 per stock. Revenue in the second quarter of 2017 surged 37.4 percent to $91.3 million, compared with the same three months last year when it was $66.5 million.

At the 376,749-square-foot building at 225 Varick Street, Shake Shack will join existing office tenants such as the National Audubon Society and Workman Publishing.