Shake Shack Returning to Penn Station With 3K-SF Lease
By Mark Hallum March 15, 2023 1:09 pm
reprints
The prospect for premium fast food in North America’s busiest transit hub isn’t so shaky anymore.
Shake Shack is returning to Pennsylvania Station after being displaced from the Long Island Rail Road concourse in late 2019 to make way for station renovations. Danny Meyer’s burger company just signed a 3,380-square-foot lease with Vornado Realty Trust (VNO), Commercial Observer has learned.
The asking rent and the length of the lease were not disclosed by Cushman & Wakefield (CWK), which represented the tenant in the deal. It’s not clear when the burger joint will reopen its doors.
“As an industry leader in environment, social and governance matters, specifically around workforce and supplier diversity as well as the advancement of women and minorities, Shake Shack is an amazing company to work with,” JRT Realty Group’s Jodi Pulice, who represented Shake Shack alongside C&W’s Joanne Podell, said in a statement. “With New York City’s retail market rebounding and more employees returning to the office, Shake Shack will benefit from its prime location in the heavily trafficked Penn Station.”
Vornado was represented in-house in the deal and did not immediately respond to a request for comment.
Prior to the 2019 exit of Shake Shack from the bleak corridors of Penn Station — before the recent improvements — the LIRR concourse also hosted the likes of Starbucks (two of them), Papyrus, Godiva, Pret a Manger and Le Bon Cafe as well as small deli-style kiosks. Those too had to leave during the renovations.
Mark Hallum can be reached at mhallum@commercialobserver.com.
