We know Safeway has some of the most value real estate of most (or most) grocery store chains, but which store(s) in the company are the most valuable?
Off the top of my head, West Hollywood comes to mind.
Safeway/Albertson's Real Estate
Re: Safeway/Albertson's Real Estate
I think La Jolla would have to be up there, too. It's also a very high volume store in an area with no competition and very high income.
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Re: Safeway/Albertson's Real Estate
I meant real estate value of the lot the stores sit on. Some of the lots Safeway owns were purchased before major development of that particular area skyrocketed.
Re: Safeway/Albertson's Real Estate
I see what you mean. Well, La Jolla would still be on that list for sure. Also anything in the Los Angeles metro area, the southern part of the San Fernando valley or anything along the coast from San Diego to Santa Barbara that opened before the 1970's would have increased in value by an extraordinary amount.
I don't know the particulars about West Hollywood now but I know when I worked there back in the day the parking lot and 2/3 of the store was leased but Safeway owned 1/3 the land that the actual store was located on. They bought an apartment building that was next door to the original store and tore it down and then expanded into that space.
I don't know the particulars about West Hollywood now but I know when I worked there back in the day the parking lot and 2/3 of the store was leased but Safeway owned 1/3 the land that the actual store was located on. They bought an apartment building that was next door to the original store and tore it down and then expanded into that space.