Safeway Fire. At 35th and Northern Phoenix
Re: Safeway Fire. At 35th and Northern Phoenix
Update - Safeway will not rebuild. Kind figured they wouldn’t. The neighborhood is not what it was when they opened back in 1981.
http://www.azfamily.com/story/38800888/ ... the-ground
http://www.azfamily.com/story/38800888/ ... the-ground
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Re: Safeway Fire. At 35th and Northern Phoenix
Makes sense. The neighborhood around 35th Ave. / Northern is arguably similar to 67th Ave. / Peoria and 51st Ave. / Olive which both closed within the past 4 years.ckellogg5 wrote: ↑August 2nd, 2018, 3:35 pm Update - Safeway will not rebuild. Kind figured they wouldn’t. The neighborhood is not what it was when they opened back in 1981.
http://www.azfamily.com/story/38800888/ ... the-ground
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Re: Safeway Fire. At 35th and Northern Phoenix
I wonder if they owned the real estate or leased it.
They have been selling a lot of real estate lately so maybe this gave them another opportunity... if they own it.
They have been selling a lot of real estate lately so maybe this gave them another opportunity... if they own it.
Re: Safeway Fire. At 35th and Northern Phoenix
Safeway is considering to reopen the 59th Avenue and Thunderbird Rd store due to the fire at the former Safeway at 35th Avenue and Northern Ave.
Re: Safeway Fire. At 35th and Northern Phoenix
Safeway is considering to reopen the 59th Avenue and Thunderbird Rd store due to the fire at the former Safeway at 35th Avenue and Northern Ave.
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Re: Safeway Fire. At 35th and Northern Phoenix
It appears that the property was leased (the owner is shown on tax records as PDG America Shopping Centers LLC and it doesn't appear to be a related entity to Albertsons or Safeway).storewanderer wrote: ↑August 2nd, 2018, 8:57 pm I wonder if they owned the real estate or leased it.
They have been selling a lot of real estate lately so maybe this gave them another opportunity... if they own it.
They do own the Albertsons store 2 miles away at 19th Ave. / Northern Ave. (which I expect to become a Safeway at some point).
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Re: Safeway Fire. At 35th and Northern Phoenix
Interesting. I wonder if they previously owned the store. It could even be the shopping center owner opted not to redevelop the store and it wasn't even Albertsons decision.
They have been selling a ton of real estate. It appears they need to raise cash. I see a North Lake Tahoe (Kings Beach) store was sold in a package of 71 stores last year. It was then re-sold this year by the group that bought the package, for a profit of $5 million. Gee, maybe they should have kept it a little longer.
https://www.bizjournals.com/sacramento/ ... o-los.html
Safeway used to own its Tahoe City Store (and the entire mall there) too but sold that about six years ago.
This is some valuable real estate. Plus paying lease on these previously owned stores in high profile locations probably hits the store's bottom line quite a bit.
They have been selling a ton of real estate. It appears they need to raise cash. I see a North Lake Tahoe (Kings Beach) store was sold in a package of 71 stores last year. It was then re-sold this year by the group that bought the package, for a profit of $5 million. Gee, maybe they should have kept it a little longer.
https://www.bizjournals.com/sacramento/ ... o-los.html
Safeway used to own its Tahoe City Store (and the entire mall there) too but sold that about six years ago.
This is some valuable real estate. Plus paying lease on these previously owned stores in high profile locations probably hits the store's bottom line quite a bit.
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Re: Safeway Fire. At 35th and Northern Phoenix
I have no idea what the real estate market is like in Arizona, but if the market has become inflated, that could be a factor here. I do know that was a factor with the Kmart in Santa Rosa, which was not owned by Kmart. In that case, there had already been talk about rebuilding/redeveloping (not necessarily including Kmart) long before the fire.
There are marginal stores around the Pacific Northwest that give the feeling that something similar would occur if a fire or other disaster struck requiring the store to be rebuilt. Especially given the skyrocketing cost of real estate in Portland and Seattle. (both of which have already seen store closures)
Some people are going to view this as Safeway/Albertsons turning their back on their neighborhood though, and if forced to drive elsewhere are likely to choose other stores they find.
There are marginal stores around the Pacific Northwest that give the feeling that something similar would occur if a fire or other disaster struck requiring the store to be rebuilt. Especially given the skyrocketing cost of real estate in Portland and Seattle. (both of which have already seen store closures)
Some people are going to view this as Safeway/Albertsons turning their back on their neighborhood though, and if forced to drive elsewhere are likely to choose other stores they find.
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Re: Safeway Fire. At 35th and Northern Phoenix
At least Albertsons/Safeway is in better shape than Kmart. I remember when that blizzard caved in the roof of a Kmart store a few years ago, even though they were able to get it repaired (presumably with insurance) they decided at the last minute to not reopen it, or something.Super S wrote: ↑August 3rd, 2018, 8:12 am I have no idea what the real estate market is like in Arizona, but if the market has become inflated, that could be a factor here. I do know that was a factor with the Kmart in Santa Rosa, which was not owned by Kmart. In that case, there had already been talk about rebuilding/redeveloping (not necessarily including Kmart) long before the fire.
There are marginal stores around the Pacific Northwest that give the feeling that something similar would occur if a fire or other disaster struck requiring the store to be rebuilt. Especially given the skyrocketing cost of real estate in Portland and Seattle. (both of which have already seen store closures)
Some people are going to view this as Safeway/Albertsons turning their back on their neighborhood though, and if forced to drive elsewhere are likely to choose other stores they find.
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Re: Safeway Fire. At 35th and Northern Phoenix
The only other market at that intersection is an Asian market in an ex-Alpha Beta. The Safeway would be a good location for an Aldi or WM Neighborhood Market