Commercial Real Estate & Business News – July 17, 2015

After gobbling up one of its biggest competitors earlier this year, Albertsons Companies Inc. is now pursuing an IPO. The Boise, Idaho-based company filed a registration statement with the Securities and Exchange Commission to sell shares of its common stock. Although the number of shares to be offered and the price range for the proposed offering have not yet been determined, the chain indicated it would raise $100 million through the IPO… Read more »
Shake Shack, a New York-based fast-casual restaurant chain, announced Thursday its plans for a second location in Phoenix. Earlier this summer Shake Shack (NYSE: SHAK), which went public in January, announced it was coming to Scottsdale Fashion Square in early 2016. The second location will be in central Phoenix near Camelback Road and Central Avenue at Uptown Plaza. For nearly a year, Uptown Plaza, which is anchored by an AJ’s Fine Foods, has been going through a massive renovation… Read more »
Phoenix-based car dealer DriveTime plans to add up to 650 new jobs in Arizona over the next year and is moving into an expanded headquarters near downtown Tempe. Formerly called Ugly Duckling, the company specializes in providing financing for customers with bad credit and operates 130 used-car dealerships in 25 states…Read more »
Organic grocers Sprouts Farmers Market and Natural Grocers are battling it out on each other’s turf. Denver-based Natural Grocers is opening a story next month in Scottsdale. This is Natural’s first store in the Phoenix area. The Colorado company already has locations in Sedona, Tucson, Prescott and Flagstaff. It has another store planned for Tucson. That’s on Phoenix-based Sprouts’ (Nasdaq: SFM) home turf… Read more »
The massive Belmont Master Plan has been approved as of June 24th. The total 24,800-acre project will consist of residential, retail, office, and mixed use components (see chart below for breakout) as well as 21 K-8 schools and 3 high schools. The ±24,800 acres of land is located north of McDowell Road alignment, south of CAP Canal, West of Hassayampa River, and east of the Wintersburg Road alignment. The project was initially approved in 1991 and has been amended in 2006, 2008, and 2012… Read more »