Onpoint Real Estate Services, LLC, closed out 2014 by brokering a seven-figure, 10-year lease downtown for the Midwest-based Steak ‘n Shake. The burger chain will open its first Pacific Northwest location on 3rd and Pike, site of the former Bruno’s.
Jaebadiah Gardner, managing partner of Onpoint, and Damon McGruder, Onpoint’s designated broker, spent most of the year working on the lease. “Our job was to negotiate and get the best possible deal for our client,” Gardner said. Gardner started the deal in 2012 and “this was our first really big deal,” he said. “It was a struggle—with the intensity of negotiation—but we got it done.”
“The big win for us is that Steak & Shake has agreed to bring Onpoint on as their exclusive broker for the next three locations in the state,” Gardner said. The big win for the state is that Steak & Shake will add 50 to 60 new jobs to the local economy.
Gardner gives Council President & CEO Fernando Martinez credit for being a sounding board through the process. “The support that Fernando has been to us has been tremendous,” Gardner said. “From a confidence level, he very much believed in what I can do and what we can do.”