Commercial Real Estate & Business News – October 20, 2015

Former Tesco-Owned Chain Fresh & Easy Likely to File for Second Bankruptcy

Fresh & Easy Neighborhood Market, a former Tesco Plc-owned grocery chain, is preparing its second bankruptcy filing in two years, reports Bloomberg Business. An application could be filed as soon as next week, however some claim that if the supermarket can find a buyer for all or part of the chain they will be able to avoid the filing… Read more »

The New Gold Rush: Money Floods Into Upstart Restaurants

New York private equity firm Goode Partners invested in a little known Tex-Mex concept out of Austin called Chuy?s in 2006. Five years later, Wall Street investors welcomed the chain?s initial public offering with open arms. Investors have been trying to recreate the success of that investment ever since, creating a gold rush in the restaurant industry as private equity groups and venture capital firms all pump money into young concepts seeking the next big thing… Read more »

The Domain at Tempe Student Housing Sells for $65 Million

The 299-unit / 959 bed Domain at Tempe Student Housing Apartment Complex sold Thursday for $65 million or $217,000 per unit. It is located near the intersection of McClintock Drive and Apache Boulevard, less than two miles east of the Arizona State University Tempe campus. The Scion Group purchased this asset from Harrison Street. Both buyer and seller are based in Chicago… Read more »

Alliance Residential Sells Chandler Center to LA Buyer for $48M

Phoenix-based Alliance Residential Co. has sold a 290-unit apartment development in Chandler for $47.5 million. Los Angeles-based TruAmerica Multifamily bought the Trevi apartment complex near Dobson and Fry roads in the East Valley. The complex was built in 2005. It is a location near the juncture of the Loop 101 and Loop 202 freeways… Read more »

September Housing Data May Provide Boost for Phoenix, Local Builders

The U.S. housing data for September to be released this week could show things are moving in a better direction, and provide a boost for Phoenix and local builders. August wasn’t the best month for home sales, and with the National Association of Homebuilders releasing its index on Monday it will provide an early look at what’s going on, according to a report from Reuters… Read more »