Fast casual burger chain, Smashburger, recently secured a new franchisee, Cow Town Sizzle Inc, a branch of an existing franchisee, SB Sizzle Inc. Cow Town plans to open 12 new Smashburger restaurants in the Fort Worth area, while SB Sizzle plans to open 10 units in east Texas. The first of these units is slated to open in Longview, TX by the end of 2009.
This agreement brings Smashburger's franchise commitments to 250 units in the states of Arizona, Texas, Idaho, Iowa, Illinois, Kansas, Minnesota, New Jersey, Oklahoma, Nevada, New Mexico, Colorado, Utah, and South Dakota. The company currently operates nearly 30 restaurants in Idaho, Colorado, Utah, Oklahoma, Kansas, Minnesota, and Texas.
Smashburger expects to have between 30 and 60 operating units by the end of this year and has an ultimate goal of 500 U.S. units.
According to CoStar Tenant, the typical Smashburger restaurant is between 1,800 and 2,000 square feet.
Click here to visit Smashburger's site criteria page.
This article appears in CoStar's Retail News Roundup: Sep. 7 to 20, 2009
This week in the Retail Roundup, CoStar reports on
expansions or new concepts at Smashburger, Massage Envy and Rue21;
closings, cutbacks, defaults, or bankruptcy news at Sears and Kmart, Tavern on the Green, PacSun, Samsonite, Sacino Formalwear, and Starbucks;
acquisition, merger, loan, sale, or IPO activity at Ramco-Gershenson, Prudential and Kimco, Susser Holdings and Jack-in-the-Box, Macerich, and Trademark Property Company;
new retail development news in WA and NY;
personnel or corporate announcements at CB Richard Ellis, Icon Real Estate, Regency Centers, Developers Diversifed, Diversified Realty, and Lackman Commercial;
sustainability and green building news at Vestar Development; and more.