Commercial Real Estate & Business News – March 17, 2014 – HAPPY ST PATTY’S DAY!

UPDATE: Fresh and Easy Portfolio Sale

In November, Fortress Investment Group had signed an agreement to purchase 53 properties from the Fresh and Easy portfolio for a total of $41.5m. On February 25 we had blogged (LINK) the transaction of 11 of these properties. We have since seen a few more transactions and so we are updating this story… Read more

Quiznos is Toasted. Sandwich Company Files for Bankruptcy

Quiznos is toasted. And we’re not talking about the sandwiches this time. Quiznos Corp., the Denver-based purveyor of toasted subs, filed for bankruptcy today, Bloomberg reports. The company listed debt of more than $500 million in Chapter 11 documents filed in U.S. Bankruptcy Court. It hopes to implement a reorganization plan to wipe out about $400 million of that debt, according to Bloomberg… Read more

Trillium to Build $40M, 297-Unit Apartment at Washington Park

Say “DuPont Circle,” and most think of the famous roundabout in Washington, D.C. A street by the same name surrounds an undeveloped lot inside the block between the Hohokam Expressway and Washington, Van Buren and 44th streets. Trillium Residential LLC plans to fill that space with a 297-unit, $40M apartment complex… Read more

Olympic-Caliber $19M BMX Training and Event Center Coming to Gilbert

BMX – bicycle motocross – racing is big business, and Gilbert will become the U.S. center for BMX racing and Olympic-caliber training. Gilbert’s city council can green-light the prospect if it approves a proposal from the American Bicycle Association. The concept plan designed by HKS Architects, Inc. encompasses the USA BMX headquarters, track and event center, a city bike park, and training facility. A Hall of Fame museum is part of the proposal the council is reviewing. Action on the agreement is scheduled for April 7… Read more

Home Values Climb for 2nd Year in Row

In 2013, home values climbed across the region for the second year in a row. But unless more buyers jump into the market this year, prices and sales won’t climb. The Arizona Republic’s latest Valley Home Values report will be in Sunday’s paper and on; highlights are available now in the tablet magazine AZ… Read more