3 days Ago By Joey Reams
Shake Shack, known for its delicious made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more, is getting ready to open a new location in Surprise at 16470 W Waddell Rd.The company’s eighth Phoenix location is set to open in the Village at Prasada later this year, according to a recent liquor license application submitted along with a new site coming to 1675 N Globe Drive, which What Now Phoenix previously reported on. It’s unclear exactly when this location is expected to open, but tenants for the shopping center are expected to move in by Summer 2025.
Located just north of Village at Prasada on Waddell Road, this new development will complement the existing retail and dining venues, enriching the shopping experience for the community. Prasada North will add 350,000 square feet of new retail, dining, and shopping options in the City of Surprise. Previously announced tenants include Target, sneakybird, Portillo’s, FirstWatch, and more.
The new Shake Shack location comes on the heels of a portion of Prasada Shopping Center changing hands. A portion of the popular Prasada shopping center in Surprise has traded hands for $32 million, according to the Phoenix Business Journal. Real estate investment trust Curbline Properties Corp.
acquired 7 acres in the Prasada North project that’s under development by Scottsdale-based SimonCRE at the Loop 303 and Waddell Road. Beachwood, Ohio-based Curbline, a spinoff of Site Centers Corp., paid all cash for a portion of Prasada that includes 34,000 square feet of retail.
About a dozen tenants are in those spaces, including Shake Shack, Starbucks, Torchy’s Tacos, Einstein Bros Bagels, Portillo’s Hot Dogs, and more.This isn’t the only new location Shake Shack is working on in Arizona. Recently, the New York-based fast-casual chain recently announced plans to open the very first Tucson location in 2026.
The new location will move into the former home of Fabrics That Go, and is expected to open at 3105 N. Campbell Ave., just south of East Fort Lowell Road, according to a lease report finalized on Monday, March 31.
This location is a part of Shake Shack’s recently updated long-term goals, including now seeing the potential for its company-operated footprint to reach at least 1,500 Shacks over time, versus the prior target of 450 provided in conjunction with the Company’s February 2015 initial public offering.“Since the Company’s founding in 2004, Shake Shack has been on a continuous journey of expanding how we bring Enlightened Hospitality to our guests and elevate our team members and our communities,” CEO Rob Lynch said in a press release at the beginning of the year. “We are proud to announce that we ended FY2024 with 329 Company-operated Shacks with a marked improvement in our profitability and returns.
However, we believe that we are just getting started and see an ample runway for growth ahead. We are committed to bringing the world’s best fine casual experience to as many guests, team members, and communities as possible. In doing so, we aim to bring pride to everyone in our company and to deliver a strong financial benefit for our team members and shareholders.
We designed our six 2025 Strategic Priorities to deliver on our robust opportunity, mission, and objective. These are to build a culture of leaders, optimize restaurant operations, drive comp sales by increasing guest frequency, build and operate our Shacks with best-in-class returns, accelerate our Licensed business, and invest in long-term strategic capabilities. Leveraging our internal data models, as well as more than 20 years of opening and operating our Shacks with among industry-leading returns, we now see our domestic company-operated footprint to reach at least 1,500 Shacks.
”Photo: Official.
