We selected Lucernex to help us organize and manage our rapid store growth and to manage our leases.
(PRWEB) February 19, 2013
Lucernex Technologies announced today that Smashburger, one of America’s fastest growing fast casual chains, has selected Lucernex’s cloud-delivered Lx Retail solution to manage its portfolio of approximately 200 owned and franchised restaurant locations in 29 states in 5 countries. This will include the site selection, project management, lease administration (Lx Contracts), facilities management and capital program management modules of Lx Retail.
“We selected Lucernex to help us organize and manage our rapid store growth and to manage our leases”, said Matt Stanton, VP Strategy and Development at Smashburger. “It was important for Smashburger to find a vendor that provided a complete real estate solution in one product and one platform”.
Lx Contracts is the market leading cloud-delivered lease administration and rent accounting solution for retailers. It will assist Smashburger in upcoming changes in the accounting requirements surrounding leases.
“We are very happy to have Smashburger as a client“, said Mike Nuzum, CEO of Lucernex. “Lx Retail was designed for companies like Smashburger that are growing fast to ensure they secure the best sites, get the best lease terms and get their stores open quickly.”
Lx Retail was purpose built by experts in retail, for retailers. It rapidly delivers a return on investment (ROI) and has the lowest long-term total cost of ownership (TCO) in the industry.
Implementation of Lx Retail began in January of 2013.
Smashburger is America’s fastest growing, fast casual “better burger” restaurant with global appeal, offering a variety of handcrafted menu items, including regionally inspired burgers and sides, and a ‘create your own’ model that allow guests to customize their experience.
Smashburger also offers a wide assortment of chicken sandwiches, a selection of local beverages, craft beer and hand-spun Häagen-Dazs® shakes to provide a unique experience. Developed and owned by private equity firm Consumer Capital Partners (CCP), Smashburger operates and develops both corporate and multi-unit franchise territories across the globe with approximately 200 restaurants across 29 states in the United States, Canada, Kuwait, Saudi Arabia and Costa Rica. Smashburger recently topped Fast Casual’s 2012 Top Mover & Shakers list, and was named America’s Most Promising Company by Forbes Magazine in 2011. It is the recipient of the International Council of Shopping Centers 2011 Hot Retailer Award and was also named to the Inc. 500 List of America’s Fastest Growing Companies the past two years in a row. To learn more, visit http://www.smashburger.com.
Founded in 2000, Lucernex Technologies provides retail real estate professionals with powerful cloud-based solutions to manage the store lifecycle. All Lucernex solutions were designed “by retailers for retailers” and can manage any size portfolio of leased and owned properties. Fortune 500 companies in the corporate real estate, hospitality and retail industries use Lucernex Technologies solutions every day to ensure compliance, mitigate risk and empower effective growth. As an innovative leader in retail real estate solutions, Lucernex continues to grow its customer base by applying its Web-based software expertise and real estate development insight to provide advanced tools and services for business. For more information, please visit http://www.lucernex.com.