Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a newly renovated Shake Shack located at 12103 Jefferson Avenue in Newport News, Virginia (the “Property”). The free-standing single tenant Shake Shack consists of a 3,000 square foot building on a 0.81-acre corner parcel of land. Shake Shack has a new 10-year lease with four (4), five-year renewal options. The lease calls for attractive 10% increases every 5-years throughout the primary lease term and at the start of each renewal option. The Property is currently under construction and has an anticipated rent commencement date of October 28, 2024. Shake Shack is extremely well located at the signalized intersection of Oyster Point Road (VA Route 171) and Jefferson Avenue (VA Route 143), one of the area’s primary retail corridors. The Property enjoys outstanding visibility, frontage and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Patrick Henry Mall, Riverside Regional Medical Center (Hospital), Newport News/Williamsburg International Airport, and major roadways including US Routes 17 and 60 and Interstate 64, all of which drive traffic to the area. Additionally, the Property is within minutes of several area schools and is surrounded by densely populated residential neighborhoods providing a built-in customer base.