Are you interested in purchasing a fee simple single tenant Safeway triple net lease property for 1031 exchange?
We have access to a large inventory of Corporate Safeway net lease or nnn lease properties for sale. Please send an email to info@nnndeals.com with your Safeway 1031 exchange criteria and we will email you a short list of Safeway nnn lease or triple net lease properties for sale.
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About Safeway:
Safeway Inc. (NYSE: SWY), a Fortune 500 company, is North America’s third largest supermarket chain, with, as of December 29, 2007, 1743 stores located throughout the western and central United States and western Canada. [3] It also operates some stores in the Mid-Atlantic region of the Eastern Seaboard. The company is headquartered in Pleasanton, California. Supermarket News ranked Safeway No. 4 in the 2007 “Top 75 North American Food Retailers” based on 2006 fiscal year estimated sales of $40.5 billion.[4] Based on 2005 revenue, Safeway is the tenth largest retailer in the United States.[5]
Sam Seelig Company was founded in April 1912 by Sam Seelig who had come to California from Arizona in 1911. Seelig opened a single grocery store in Los Angeles at the corner of Pico and Figueroa streets.[6] The chain had grown to 71 stores by 1922.[7] After World War I the firm became deeply indebted to its main grocery wholesaler, a firm owned by W.R.H. Weldon. In a swap of stock for debt, Weldon assumed control of the chain, leaving Seelig in charge of retail operations. Seelig then left the company in 1924 to enter the real estate business, forming Sam Seelig Realty.
As a result of Seelig’s departure, the company held a contest in 1925 to develop a new name, the result of which was Safeway. The original slogan was “an admonition and an invitation” to “Drive the Safeway; Buy the Safeway.” [8] The point of the name was that the grocery operated on a cash-and-carry basis; it did not offer credit, as had been traditional for grocers. It was the “safe way” to buy because a family could not get into debt via its grocery bill (as many families did, especially during the Great Depression). By 1926 Safeway Stores had 322 stores centered in Southern California.
Weldon saw himself as a wholesaler and sold his 80% of the business for $3.5 million to Merrill Lynch in deal brokered by Charles E. Merrill. Fee simple single tenant Safeway triple net lease for 1031 exchange.
