RPAI Announces Shake Shack As First Signed Lease At Circle East Redevelopment Project

Retail Properties of America, Inc. (NYSE: RPAI) announced yesterday that Shake Shack has signed a new lease at its Circle East redevelopment project located in Towson, MD. Shake Shack will be located in a 3,200 square foot space on Circle East’s prominent corner, on Joppa Road at the circle interchange in downtown Towson.

Shake Shack is a modern-day “roadside” burger stand known for its 100% all-natural Angus beef burgers, chicken sandwiches, spun-fresh frozen custard, crinkle-cut fries and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack’s mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment.

“We are excited to add the first Shake Shack to the Baltimore suburbs and believe that the addition of an industry-leading quick service restaurant will be in demand by a market that is comprised of young, affluent and educated shoppers who seek the ‘live, work, play’ environment that Circle East will deliver,” stated Greg Goldberg, vice president, leasing director – eastern division. “Circle East is poised to become a walkable, active environment with a sought-after lineup of brands, and we continue to attract both national and local retailers, services, and restaurants that are unique to the market and will deliver a true ‘main street’ to Towson.”

The retail portion of Circle East is anticipated to open in late 2020. RPAI’s multi-family development partner, AvalonBay, continues to target the first half of 2020 for initial residential move-ins to the approximately 370 AvalonBay-owned multi-family rental units that also form a portion of the redevelopment project.