Espo’s Mexican Food, an East Valley institution that closed last February after a 40-year run, is open again for business.
And there’s a familiar name at the helm: longtime owner Leon Espinoza.
Located on the southeast corner of McClintock and Chandler Boulevard, the Mexican restaurant has been a neighborhood favorite for burritos, tacos, and tamales.
The Espinoza family carried a loan on the property until 2010, when the lender foreclosed. Espinoza and two partners signed a new two-year lease in 2010, with the intention of buying the property at the end of the lease.
Espinoza reportedly left the partnership in late 2013, and the two remaining partners discovered the property, which includes an attached market that’s sitting empty, was appraised far lower than the sale price.
The city of Chandler also demanded a slew of expensive improvements.
The partners tried to renegotiate the sale with the lender, but learned in December 2013 the property had been sold. So Espo’s was forced to close in February.
The restaurant re-opened Monday. A woman at the restaurant said she was one of two new partners with Espinoza, but declined to talk about the re-opening for legal reasons.
Phone calls to Espinoza were not returned.
