Luby’s inked an agreement last week to sell dozens of Texas properties to an Arizona-based real estate firm in a deal valued at $88 million.
Store Capital Acquisitions agreed to buy up to 26 of Luby’s Texas properties and plans to close on the sale Oct. 12, according to a filing with the U.S. Securities and Exchange Commission. Properties in the sale are tied to Luby’s restaurants leased and operated by Calvin Gin, a Chicago catering entrepreneur who bought Luby’s brand and restaurant operations in a separate deal that closed last month.
The developments are the latest in Luby’s ongoing