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Fresh & Easy Properties For Sale 

    



Interested in Purchasing a Fresh & Easy Property for Investment?

 

If you wish to purchase a Fresh & Easy property for investment, please email  info@nnndeals.com; We have access to an extensive inventory of triple net Fresh & Easy Properties for sale in Washington DC, Maryland, Virginia and the entire United States.  

 

 

fresh and easy

 

 

 

Price: 

$2M - $5M


Lease Term
:

10 – 15 Years


Increases:
 
10% Every 5 years 
Lease Extensions: 20 – 40 Years  

Lease Type
:
Absolute NNN Lease 

Lease
Guarantee: 

Corporate
CAP Rate Ranges:
6% – 7%
Subsidiary
Industry Retailing
Fate Chapter 11 bankruptcyliquidation
Founded January 2007
Defunct October 23, 2015
Headquarters El Segundo, California
Number of locations
102
Area served
Arizona,California,Nevada
Key people
Jim KeysCEO
Products Groceries
General Merchandise
Parent Yucaipa Companies
Website www.freshandeasy.com
 


  

About Fresh & Easy:

 

Fresh & Easy Neighborhood Market was a chain of grocery stores in the western United States, headquartered in El Segundo, California.[1] It was a subsidiary ofTesco, the world's third largest retailer, based in the United Kingdom,[2] until November 2013 when it was purchased by Yucaipa Companies.[3] It had plans for rapid growth – the first stores opened in November 2007 and, after a pause in the second quarter of 2008, the opening program recommenced. While there were over 200 stores in Arizona, California, and Nevada by December 2012, Tesco confirmed in April 2013 that it was pulling out of the US market, at a reported cost of £1.2 billion.[4]On September 10, 2013, Tesco announced they were transferring ownership and operations of more than 150 stores to supermarket-owner Ron Burkle's Yucaipa Companies group.[5] At the beginning of October 2013, Fresh & Easy filed for Chapter 11 bankruptcy in U.S. bankruptcy court.[6] The sale cost Tesco £150m, taking the total cost of its failed US venture to nearly £2bn. On October 23, 2015, Yucaipa announced that it will close all Fresh & Easy stores. [7] 

On October 30, 2015, Fresh & Easy filed for Chapter 11 bankruptcy for the second time in two years 

 

 

On February 9, 2006, Tesco announced that it planned to move into the United States by opening a chain of small format grocery stores in three Western states (Arizona, California and Nevada) in 2007 named Fresh & Easy.[9] The initial planned capital expenditure was up to £250m ($436m) per year. After Tesco CEO Terry Leahy announced serious resources had been committed to developing a format that would be popular with American consumers, investors responded with some skepticism with a small drop in the company's share price.[10] The markets were expected to be around 1,400 square metres (15,000 sq ft)—good-sized supermarkets in many countries, but about one-third the size of an average supermarket within the US.[11] By January 2007, Tesco opened its U.S. headquarters in El Segundo, California,[12] near Los Angeles International Airport. The company initially expanded into Southern California, Phoenix, Arizona, and Las Vegas, Nevada.[13] 

On April 21, 2009 Tesco reported a trading loss of £142m from Fresh & Easy.[14] On October 4, 2010 Fresh & Easy announced that it was temporarily closing 13 stores because of shrinking populations, high percentage of housing foreclosures and high unemployment rates. The stores were being mothballed, with hope of reopening them when the economy improves. Six of the stores were in the Las Vegas area, six in the Phoenix area and one in Moreno Valley. Most of the closures were "C-level stores," or those doing less than $50,000 USD in weekly sales.[15][16] The business was not expected to break even until 2012–13.[17]In the Strategic Review announcement in December 2012, research was showing that the company was not going to make a profit until the end of 2013 or even 2014. An article in the Los Angeles Times estimated that the chain has experienced "about $1 billion in cumulative annual losses" prior to 2013.[18] 

In February 2013 it was reported that despite rumors, Tesco would not be selling or closing the chain.[19] This "rumor" was based on the fact that Tesco Chief Executive Philip Clarke announced to shareholders that Tesco would close or sell Fresh & Easy.[20] 

Tesco announced the sale of the chain on September 10, 2013 to Yucaipa Companies LLC.[21] In fact, Tesco was not so much selling the chain as "essentially paying Mr. Burkle’s Yucaipa Cos. to take on [Fresh & Easy's] liabilities" at a cost to Tesco of £150 million (approximately $235 million), while also providing the transferred chain with an £80 million loan.[22] On November 27, 2013, the sale to Yucaipa Companies was completed.[3] Yucaipa acquired 167 Fresh & Easy stores and closed approximately 40 of them.[23] 

In a statement delivered shortly after the news was released, Burkle confirmed there would be changes to the stores' format, "to complete Tesco’s vision ... [and] make it even more relevant to today’s consumer."[24]In June 2014, Fresh & Easy initiated a reintroduction campaign, emphasizing "affordable organics," made-on-the-premises takeout, freshness, and the avoidance of artificial colors and flavors. [23] 

In its e-mail announcing the sale, Fresh & Easy said that customers would need to re-enroll in the Fresh & Easy Friends Card Loyalty program because "California state law does not allow the transfer of personal information of Friends Rewards members to the new buyer of Fresh & Easy"; after re-enrolling, "existing points and rewards balance will be honored."[25] 

On March 22, 2015, Fresh & Easy announced that 50 of its stores would close in order to redeploy its money into development of an e-commerce shopping service.[26] 30 of the stores that would close were located in California.[27] The service, named Click & Collect, underwent testing at stores in the Las Vegas Valley in anticipation of a chainwide rollout. 

 

Fresh & Easy Properties For Sale Across the United States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky,  Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey,  New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma,  Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands,  Washington, West Virginia,  Wisconsin,  Wyoming  



 

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