{"id":827821,"date":"2026-07-30T08:40:03","date_gmt":"2026-07-30T08:40:03","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=827821"},"modified":"2026-07-30T08:40:03","modified_gmt":"2026-07-30T08:40:03","slug":"realsource-group-arranges-58-million-sale-of-newconstruction-shake-shack-in-houston-metro-at-recordlow-cap-rate","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/realsource-group-arranges-58-million-sale-of-newconstruction-shake-shack-in-houston-metro-at-recordlow-cap-rate_827821.html","title":{"rendered":"RealSource Group Arranges $5.8 Million Sale of New-Construction Shake Shack in Houston Metro at Record-Low Cap Rate"},"content":{"rendered":"
\"RealSource<\/a><\/div>\n

RICHMOND, Texas –<\/strong> RealSource Group, a national commercial real estate brokerage company specializing in investment sales, sale\u2011leasebacks and tenant representation, has arranged the sale of a newly constructed, single-tenant Shake Shack drive-thru ground lease in Richmond, part of the Houston metropolitan area. The property sold for $5.8 million at a 5.00% closing cap rate, marking a record-low cap rate for a Shake Shack ground lease in Texas and one of the lowest Shake Shack cap rates recorded nationwide.<\/p>\n

RealSource Group’s Austin Blodgett, Senior Vice President of Investment Sales, and Jonathan Schiffer, CCIM, Senior Associate, in association with ParaSell, Inc., represented the seller, Read King, a Houston\u2011based real estate development firm with more than 30 years of experience delivering high-quality retail projects nationwide. The buyer, a private 1031 exchange investor from New York City, was represented by Anthony Cerrone, Director of Investments at Marcus & Millichap.<\/p>\n

“This was a highly competitive offering from day one,” said Blodgett. “We secured an all-cash, New York-based 1031 buyer in under 30 days and closed shortly after Shake Shack opened for business. The combination of new construction, a corporately guaranteed long-term absolute triple-net ground lease, and the strength of the Richmond trade area drove exceptional investor interest. Our team has executed multiple sales within Waterview Town Center, which supported the seller’s broader break-up strategy and helped achieve strong pricing for this asset.”<\/p>\n

The Richmond Shake Shack is a 2026 build-to-suit featuring the brand’s latest double-lane drive-thru prototype. Located at 19130 W. Bellfort, the 3,072-square-foot restaurant sits on 1.71 acres within Waterview Town Center, a 134-acre mixed-use development anchored by Academy Sports + Outdoors, Sprouts Farmers Market and LA Fitness. RealSource Group, in association with ParaSell, Inc., arranged the sale of the single-tenant LA Fitness in 2021 at a record-low cap rate at the time of sale and more recently sold the Quick Quack Car Wash ground lease and Black Rock Coffee Bar.<\/p>\n

The surrounding area includes more than 248,000 residents and average household incomes exceeding $149,000 within a five-mile radius, supported by master-planned communities such as Aliana, Harvest Green, Fieldstone and Waterview Estates.<\/p>\n

The site also benefits from proximity to major employment drivers, including Amazon’s 850,000-square-foot distribution hub, which opened in 2021 and added more than 1,000 jobs to the region. Traffic counts exceed 28,000 vehicles per day at the nearby intersection.<\/p>\n

Shake Shack (NYSE: SHAK) continues to be one of the fastest-growing premium fast-casual brands in the U.S., operating more than 670 locations worldwide and expanding aggressively across suburban markets. In 2025, the company generated $1.45 billion in revenue, opened 85 new locations and improved restaurant-level profit margins to 22.6%, according to company filings. Recent operational investments — including kitchen redesigns, supply-chain optimization and enhanced drive-thru formats — have positioned the brand for durable, margin-focused growth. The Richmond opening aligns with Shake Shack’s broader strategy of targeting high-income, high-growth suburban corridors where population and household incomes continue to rise.<\/p>\n

The asset is backed by a 15-year corporate absolute triple-net ground lease with 10% rent increases every five years and four five-year renewal options. All responsibilities — including roof, structure, parking lot, taxes, insurance and common area — are borne by the tenant.<\/p>\n

“Investors continue to prioritize markets like Richmond where demographic growth, retail density and tenant expansion support long-term fundamentals,” said Schiffer. “This transaction reflects how private capital is approaching 2026 — disciplined, selective and highly responsive to best-in-class operators with strong credit and modern prototypes.”<\/p>\n

About RealSource Group <\/strong><\/p>\n

RealSource Group, founded in 1991, is a national commercial real estate brokerage company specializing in tenant representation, investment sales and sale-leaseback transactions. Leveraging its sales and leasing experience, extensive broker network, technology, unique processes and national reach, RealSource delivers consistent production, exceptional service and measurable results for clients across the country. Having completed more than 1,000 commercial real estate deals nationwide, RealSource has perfected its platform through proven execution over the last 35 years.<\/p>\n

For more information, visit: realsource.com<\/a>.<\/p>\n

Media Contact<\/span>
Company Name:<\/strong> RealSource Group<\/a>
Contact Person:<\/strong> Austin Blodgett, Senior Vice President, Investment Sales
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> 949.431.2735
Address:<\/strong>12 Corporate Plaza Suite 150
City:<\/strong> Newport Beach
State:<\/strong> California
Country:<\/strong> United States
Website:<\/strong> https:\/\/realsource.com\/<\/a><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

RICHMOND, Texas – RealSource Group, a national commercial real estate brokerage company specializing in investment sales, sale\u2011leasebacks and tenant representation, has arranged the sale of a newly constructed, single-tenant Shake Shack drive-thru ground lease in Richmond, part of the Houston … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[418,401,425,440,422],"tags":[],"class_list":["post-827821","post","type-post","status-publish","format-standard","hentry","category-Building-Construction","category-Business","category-Finance","category-Real-Estate","category-Retail"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/827821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=827821"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/827821\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=827821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=827821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=827821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}