SAN FRANCISCO-Catellus Corp.’s 301-acre Mission Bay project has its first significant retail tenant in Safeway. The grocer will open a 33,000-sf store on the ground floor of a mixed-use project planned for 1 King St.

The new Safeway will break ground next year, and will be completed by mid-2003. The value of the lease was not immediately available, but the average rate for this type of space is upward of $45 per sf.

Above Safeway will be 600 apartments, 45,000-sf of office space. Catellus is marketing the remaining ground floor retail space to smaller stores and banks. The property is located several blocks from Pacific Bell Park.

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