X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

While “traditional” developers all over the place are cutting back the development plans, grocer Safeway has decided to get into the shopping-center building enterprise, a Reuters report says.The supermarket operator has 36 developments underway, and Chairman and CEO Steve Burd says there are “pretty extraordinary” opportunities out there to develop centers without spending a lot of capital.So our question is: What year is it? Did we miss something here? Sure, grocers seem to be positioned better than any sector because of their necessity nature, and Safeway’s strong sales and earnings are a reflection of that. But we thought a lot of their success also had to do with conservative store-opening plans and a concentration on renovating their core portfolios.But development? Now?Or is this just the beginning? Will we start seeing some well-positioned companies like Safeway take advantage of the recession and get into the game while others are pulling back?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.