Property History
Single-Tenant Safeway (NASDAQ: ACI; S&P; BB+) & Fuel Pad
#1 Safeway Location within 15 Miles, per Placer.ai
20-Year Operating History
Recently-Extended Lease; Demonstrating Long-Term Commitment
Affluent Demos; $192,000 AHHI within 1-Mile Radius
Denver MSA with 3.4 Million People
Single-Tenant Safeway Grocer with Fuel Pad
– Albertsons (NASDAQ: ACI; S&P: BB+) operates over 2,200 locations nationwide, including more than
900 under the Safeway banner
– Successfully operated at this location since 2006, demonstrating long-term viability
– Recently executed a 5-year lease extension in 2026, reinforcing commitment to the site
– Nine remaining 5-year options, providing 45 years of potential income from an investment-grade
corporate tenant
– Tenant-constructed fuel pad (at its own cost), which drives recurring visits, increases dwell time,
and enhances customer loyalty
– Favorable lease structure with 10% rent increases every 5 years, providing a built-in hedge against
inflation (not typical for grocer leases)
– Essential-use, recession-resistant tenant; grocery is widely regarded as one of the most internet-resistant and economically resilient retail categories, with
consistent consumer demand irrespective of economic cycles
– Limited direct competition, with the nearest Safeway approximately 8 miles away
– Ranked #1 out of 8 Safeway locations within a 15-mile radius (per Placer.ai)
Dominant Grocery Anchor at Conifer Town Center
– Anchors a synergistic tenant mix including Starbucks, Conifer Public Library, Great Clips, Snowpack
Taproom & Pizzeria, and Sonic
– Creates a strong daily-needs retail ecosystem, driving consistent foot traffic
y High-Visibility Location on Major Retail Corridor
– Situated along U.S. 285, the primary retail thoroughfare serving the trade area
– Traffic counts of approximately 22,000 vehicles per day provide strong exposure and accessibility
Strategic Positioning Across from Conifer High School
– Directly across from a major local demand driver with approximately 800 students
– Generates consistent daily traffic from students, faculty, and surrounding households
Affluent Demographics & Proximity to Denver MSA
– Average household income of approximately $182,300 within a 5-mile radius
– Located within the broader Denver MSA, serving a population exceeding 3.4 million residents
SRS National Net Lease Group is pleased to offer the opportunity to acquire two corporate signed (NYSE: ACI) Safeway investment properties located in Conifer, Colorado, an affluent mountain community located 40 minutes from Denver. The offering consists of a 65,000 SF Safeway grocery store (fee simple ownership), and a 1.19-acre gas station fuel pad (ground lease). The tenant recently exercised their first renewal options in both leases and now has over six years remaining on the current lease terms, with nine (9) remaining five-year options to extend. Both leases are structured as NNN with corporate signatures, offering a stable, low-management investment opportunity ideal for passive investors. Founded in 1915, Safeway is a leading American supermarket chain, and currently operates as a banner of Albertsons Companies (NYSE: ACI). In 2023, the grocery store underwent renovations and integrated the adjoining liquor store, now rebranded under the Safeway name, enhancing the overall customer experience. The Safeway at Conifer Town Center ranks in the top 15% of grocery stores in the state by foot traffic, per Placer.ai. With the next closest Safeway located more than 8 miles away, and significant barriers to entry for new development in the trade area, the site benefits from extremely limited competition.
Ideally situated off the primary thoroughfare serving the community (U.S. Highway 285 - 22,000 VPD), the subject property offers an immediate grocery and gas station option for locals and highway travelers alike. Furthermore, the property serves as the anchor tenant to Conifer Town Center, which features a diverse tenant lineup in the heart of Conifer, CO. Nearby national/credit tenants include Natural Grocers, Starbucks, Sonic, Staples, O’Reilly Auto Parts, Anytime Fitness, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. In addition, the site benefits from close proximity to Conifer Senior High School, further increasing consumer traffic to the site. The 5-mile trade area is supported by roughly 14,325 residents and 3,308 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the subject property boast an extremely affluent average household income of $182,576. As one of the closest mountain towns to Denver, Conifer provides a tranquil, family-friendly environment, as well as quick and easy access to a major metropolitan area.
Prime Asset in Affluent Colorado Mountain Town | High-Performing Grocery Store | Extremely Limited Competition
Over 6 Years WALT with 9 (5-Year) Options | Corporate Signed, NNN Leases | Limited Landlord Responsibilities | Well-Known & Established Brand | 2023 Renovations & Expansion
Centrally Located off U.S. Highway 285 (22,000 VPD) | Conifer Town Center | Primary Retail Corridor | Nearby School
Direct Consumer Base | Six-Figure Incomes | Proximity to Denver | Strong Demographics in 5-Mile Trade Area
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