Shake Shack coming to Bridgewater

BRIDGEWATER – Shake Shack, which started out as a hot dog cart in 2001 and is now worth nearly $2 billion, is coming to Bridgewater.

The restaurant, with more than 60 locations worldwide, will be moving into the space vacated by Coldwater Creek in The Village at Bridgewater Commons. No opening date has been set for Shake Shack, according to Troy Fischer, general manager of the mall. Shake Shack will be one door down from Starbucks and across the road from Chipolte and 1,000 Degree Pizza.

Shake Shack describes itself as "a modern day 'roadside' burger stand" that serves burgers, hot dogs, frozen custard, shakes and even treats for dogs.

"We're looking forward to it," said Howard Turbowitz, the township's economic development officer. "It's going to be a great place to take the family."

Because of its popularity in New York City, Turbowitz said that the Bridgewater location will attract customers from the metropolitan area. He said he is happy that the Bridgewater Commons has the "flexibility" to replace a clothing store with a food establishment. Coldwater Creek closed all of its stores after filing for bankruptcy in 2014.

Shake Shack moving into The Village at Bridgewater Commons will create a "food court atmosphere" at the shopping area that includes Crate and Barrel, Brooks Brothers and Banana Republic, separate from the mall.

More than a dozen years ago, Shake Shack started as a hot dog cart in Madison Square Park in Manhattan to support the Madison Square Park Conservancy's first art installation. In 2004, it won the bid to open a permanent kiosk in the park. From there, it opened another outlet in Manhattan and became a popular destination known as much for its long lines as for its burgers and shakes.

Shake Shack now has about 60 outlets, including six locations in the Middle East, four in Istanbul, two in Russia and one in London.

The chain is the brainchild of famed Manhattan restaurateur Danny Meyer, who also owns high-end eateries such as the Union Square Cafe and Gramercy Tavern.

Shake Shake held the initial public offering of its stock on Friday on the NASDAQ. The initial price was $21 a share but rose through the day to $52.50 and closed at $45.90.

A boost to the stock is the fact that it's frequented by Wall Street traders and analysts, Kathleen Smith of IPO exchange-traded fun manager Renaissance Capital told USA Today.

"There's a certain cult following (for Shake Shack)," she said. "It's the Wall Street cult. They know the product. There's a Wall Street premium (to the stock price) because Wall Street loves it."

Staff Writer Mike Deak: 908-243-6607; mdeak@mycentraljersey.com