Commercial Real Estate News Recap | September 2017

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Supermarket News I Zell confirms bid for Albertsons spinoffs

AlbertsonsNoted private equity investor Sam Zell has confirmed his interest in acquiring stores to be spun off in the Albertsons-Safeway deal.

In a televised interview Sunday, Zell said Albertsons and Safeway’s focus on completing the $9 billion, 2,400-store deal has created an attractive price for 140 stores those companies may be required to divest in order to meet regulatory approval of the merger.

Zell, who leads Chicago-based Equity Group Investments, at one time owned Quality Food Centers, the Seattle supermarket chain now belonging to Kroger Co.

“Obviously, like any deal, it starts with the price,” Zell said in the interview with Fox News. “In this particular case, this is a $9 or $10 billion merger of Safeway and Albertsons and this is 140 stores that they were forced to divest. So their focus is on getting the big deal done, which creates an opportunistic environment on taking care of the remnants.”

Zell is said to be working with Stuart Sloan, a former QFC president, reports said.

“We have a lot of confidence in the supermarket business,” Zell told Fox. “We’ve been in it before, very successfully, and we think this is an interesting opportunity, and a good deployment of capital.”

Oaktree Capital Management and Convest Partners are also said to be bidders for the Albertsons-Safeway divestitures, according to reports. Neither Safeway nor Albertsons have commented on possible divestitures. They expect their merger to completed shortly.

Read More: http://supermarketnews.com/retail-financial/zell-confirms-bid-albertsons-spinoffs#ixzz3KlPLtdPl
Re-posted by: Crosbie Real Estate Group

The Denver Post I Natural Grocers store opens quietly in Capitol Hill

 

ImageNo one waited for hours to check out, and it didn’t appear anyone camped overnight, but people in Capitol Hill were still pretty excited about a new grocer in the neighborhood.

 

Natural Grocers by Vitamin Cottage celebrated its grand opening Tuesday in a reclaimed building at East Colfax Avenue and Washington Street.

 

The doors opened without the fanfare of Trader Joe’s, which was flooded by shoppers last week when the ribbon was cut on a location a few miles to the east at East Eighth Avenue and Colorado Boulevard.

 

“For years, you had to get on your bike and ride to 15th and Platte or take all your money to Whole Foods,” shopper Greg DeGroat said. “I’m really grateful as a Cap Hill resident and someone who wants to eat healthy.”

 

Store manager Barb Zalewski said the company didn’t put much effort into announcing the new store, mailing only one set of postcards to the neighborhood. Typically, the Lakewood-based retailer hits its new neighborhoods with six or seven mailings, she said.

 

The new store, in an old Office Depot that has been vacant since 2012, is one of a few in the chain that has a test kitchen for cooking demonstrations, Zalewski said.

 

“People are excited. People are saying, ‘Thank you for being in the neighborhood,’ ” Zalewski said.

 

DeGroat said he found out about the Capitol Hill store when he passed by during the soft opening Saturday. It was his birthday, and he called the store the perfect gift.

 

Read more: Natural Grocers store opens quietly in Capitol Hill – The Denver Post 
Re-posted by: Crosbie Real Estate Group