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JLL is pleased to exclusively offer the opportunity to acquire a Safeway grocery store and a Safeway fuel pad in Conifer, Colorado. The property is very well located along U.S. 285, the main arterial through the southwest foothills of Metro Denver, enjoying visibility to more than 30,000 VPD. U.S. 285 is the only commercial thoroughfare in the Conifer market. The retail locations that currently reside along the highway represent the only viable opportunities in the market, because of the zoning, which creates a controlled retail environment, making future development unattainable.
Of the 99 Safeway locations in Colorado, this location ranks 12th for number of visitors. Safeway was acquired by Albertsons in January of 2015, for $9.2 billion. Albertsons operates over 20 well-known grocery brands including Albertsons, Safeway, Acme, Tom Thumb, Vons, Shaw’s, United Supermarkets and Jewel Osco to name a few, all of which combine to operate 2,270 retail stores as of 2019.
- Fee simple interest
- Remaining 6.5 years on initial 20-year, NNN leases
- Rental increases of 10% every 5 years
- In terms of consumer foot traffic, ranks in the top 89% among grocers within 50 miles
- Average household income of over $150,000
- Over 7% population growth and 10% household growth in past decade