STNL Shake Shack

Highlights:

• New 10-Year Ground Lease with Corporate Guaranty (NYSE: SHAK)
• Absolute NNN with Zero Landlord Responsibilities
• Percentage Rent and 10% Increases Every 5 Years
• Benefits from frontage along 13400 South St. (±31,227 VPD)
• Positioned within Mountain View Village, a ±1MM SF mixed-use destination
• Surrounded by 100+ national retailers

Description:

Colliers is pleased to exclusively offer for sale a new construction single tenant net-leased Shake Shack with drive-thru located within Mountain View Village – an 85-acre mixed use destination that is part of a 600-acre master development featuring additional residential, office, and retail, in the Salt Lake City, UT MSA.

The asset benefits from a 10-Year Absolute NNN ground lease with percentage rent and 10% rent increases every five years, including options, along with frontage on 13400 South and combined traffic counts in excess of ±47,827 VPD.

Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Michaels, Burlington, PetSmart, Kona Grill, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion of the Mountain View Village project, Mountain View Corridor is projected to carry ±165,000 VPD.

The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes servicing ±206,439 residents with an annual household income of ±$159,859 within a 5-mile radius. With the surrounding trade area growth and adjacent development, this property provides investors with a stable investment opportunity for years to come.

In Partnership with:
GRANT LAMMERSEN
Vice Chair
+1 415 425 2138
grant.lammersen@colliers.com
License # UT-8169946-CN00

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