Tenant: Safeway | Eureka, CA
Premises: 49,145 SF
Renewal Options: 8 x 5 Years
Lease Expiration: 10/31/2037
Lease Type: Absolute NNN
Rental Increases: Fixed
- National Credit Grocery Store – Safeway (Albertsons Companies) is Recognized as the Leading Grocery Store Throughout the Western Region of the Country and the Highest Performing Grocer in Northern California
- Market Dominant Grocery Store – Safeway is the Only National Credit Banner Throughout All of Eureka Making this the Go-To Grocery Store for the Entire Eureka Market
- Absolute NNN Lease – Safeway Consists of a Brand New 20 Years Absolute NNN Lease with Fixed Rent Increases Throughout the Initial Term and Eight (8) – Five (5) Year Options
- Rare Generational Opportunity – The Majority of the Retail Properties in Eureka are Owned by Family Offices and Trusts and Rarely Trade Ownership, Making this Safeway Property a Very Rare Acquisition Opportunity
- Highly Desirable Location – Safeway is Situated at the NEC Right Off the Signalized Intersection of Harris Street and Harrison Avenue, a Major Arterial Within the Trade Area
- High Traffic Location – Over 38,000+ VPD on Harris Street and 21,800+ VPD on Harrison Avenue Passing the Property Daily
- Residential and Commercial Proximity – Close Proximity to Both Residential and Commercial Density Within the Surrounding Area Keeps Traffic Flowing into Safeway Throughout the Day
Safeway, Inc., owned by Albertsons Companies, is an American supermarket chain founded in 1915. As of 2014, Safeway had a total of 1,335 stores in the United States and 195 in Mexico with its partnership with Casa Ley. The largest concentration of Safeway branches is in Washington with 168 stores and then Colorado with 115. As of 2015, Safeway is a subsidiary of Albertsons Companies, LLC, having been acquired in January 2015. Safeway’s primary base of operations is in the western and central United States, with some stores located in the Mid-Atlantic region of the Eastern Seaboard. The subsidiary is headquartered in Pleasanton, California with parent company headquarters in Boise, Idaho. “Signature Select” is the company’s signature private label that offers an upscale range of products, a sublabel “Primo Taglio” is used for more upscale deli products and “Lucerne” is the main dairy line. In 2006, Safeway introduced a new line, with organically grown and processed line of products named “O Organics.” After its acquisition by Albertsons, the combined company adopted Safeway’s private label brand program, previously named “Safeway Select.” Recently Safeway started carrying throughout its stores the ready-to-eat “Meals-to-Go” which have a wide range of already prepared healthy options for breakfast, lunch, and dinner. Although food delivery has been a part of Safeway’s business model since 2000, the company has been taking initiatives through the tech world to offer first class, simplified delivery service through an app.