Steak ‘n Shake Signs Deal to Move into Third Street Promenade

Steak 'n Shake, a diner-style restaurant chain popular in the Midwest, is moving to California.

The restaurant, headquartered in Indianapolis, Indiana, has signed a 10-year lease on to move into the Third Street Promenade in Santa Monica.

The approximately 4,300-square-foot space is located near the intersection of the Promenade and Broadway, across the street from Santa Monica Place, the new upscale shopping mall in downtown Santa Monica.

"We are very exciting about (Steak 'n Shake) coming to the location," said Linda Boyer of CBRE Group, representing the landlord, Promenade Gateway. "With the foot traffic on the Promenade and proximity to Santa Monica Place, they're going to be very successful."

Steak 'n Shake plans for a grand opening later this year, after completing improvements to its space.

"Steak 'n Shake restaurants are very popular in the 22 states where they now operate," Boyer said. "It will add a really great component to the neighborhood."

Steak 'n Shake currently has more than 500 company and franchise-owned locations throughout the Midwest and Southern states, and intends to make their Santa Monica location a flagship store, as they execute a major expansion into the west coast.

Steak 'n Shake was founded in Norman, Illinois in 1934 by Gus Belt, who converted a chicken restaurant into a hamburger stand.