Commercial Real Estate News Recap | September 2017

header3

Advertisements

Brand new King Soopers Marketplace to open in Northwest Arvada

Candelas_SitePlan

From the Arvada Economic Development Association:

Residents of northwest Arvada will be pleased to learn that a brand new King Soopers Marketplace will be opening at the northwest corner of Candelas Parkway and Indiana Street.  The 123,000 sq. ft. grocery store, slated to open in March of 2018, will also house a nine-unit multiple product dispenser (MPD) fuel center.  In addition to the King Soopers store and fuel center, the 22-acre development site will also provide 7,100 sq. ft. of attached inline retail as well as four outlot pad site opportunities for ground lease or purchase.  The development is viewed as a much needed asset to the community as the area is currently underserved by retail, grocery, fuel and restaurant amenities.  Retail lease opportunities at the site are being marketed by Crosbie Real Estate Group.  Contact Rhonda Coy or Scott Steputis for more information at rcoy@creginc.com or step@creginc.com.

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

Marcus & Millichap : Retail Research: Denver Metro Area

Image

Marcus & Millichap have released their 3rd quarter Retail Research Market Overview of the Denver Metro Area. Below are some report highlights regarding Denver’s retail market:

  • Denver’s retail market will continue to make significant strides in recovery, led by strong employment gains and expanding population
  • Growth in the area’s high-tech sectors has led to the passing of the Colorado Advanced Industries Acceleration Act, designed to provide proof-of-concept grants for 7 high-tech industries
  • A significant amount of capital investment continues to be brought into the region through the combination of a booming high-tech sector and state initiatives
  • Local employers added 38,000 positions during the past year, expanding payrolls 3.1%
  • Retail spending surged 8.6% in the last 12 months
  • Vacancy continues to drop: lowest vacancy is in the Colorado Blvd/Cherry Creek submarket (2.9%); highest vacancy is seen in the Northwest submarket
  • Asking rents over the last year have rose 1.9% to $15.76 PSF
  • Retailers have been relocating to space near Union Station and the Denver Tech Center. As a result, Aurora and the Northwest submarkets have the lowest asking rents for available space. 
  • Sales of restaurants and fast-food properties increased by 16%, while drugstore sales slipped due to limited properties coming to the market

To view the full report, click here.

Re-posted by: Crosbie Real Estate Group

Denver Business Journal | King Soopers parent Kroger may replace Walmart as 9th and Colorado anchor

Logos

Instead of a Walmart, Denver’s old University of Colorado Hospital site may get a King Soopers or other Kroger store instead.

The Denver Post’s Jeremy P. Meyer and John Mossman report that Kroger Co. — the Cincinnati-based parent of Colorado grocery chains King Soopers and City Market — is in talks to place a market at the East Ninth Avenue and Colorado Boulevard site where Wal-Mart Stores Inc. wanted to go.

The Post says the store could be a King Soopers or one of Kroger’s more upscale Fresh Fare outlets. It says a decision is expected by mid-December.

Read more:  http://www.bizjournals.com/denver/morning_call/2012/11/kroger.html?ana=e_den_rdup&s=newsletter&ed=2012-11-28
Re-posted by:  Crosbie Real Estate Group