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Colliers Closes Sale of Federal Way Safeway Property
A single-tenant, net-leased Safeway property at 28810 Military Road S. in Federal Way, Washington, has changed hands for just over $7.7 million.
Barber Family Properties LLC, a California-based investor, acquired the asset from LSD Enterprises LLC, which had held the property since purchasing it in 2018. Senior Vice President Ryan Marn and Vice Chair El Warner of Colliers represented the seller in the transaction and closed at the asking price.
Constructed in 1972, the grocery store spans about 25,766 square feet. The property has a corporate-backed lease by Albertsons Companies, Inc. extending through 2037. The store underwent renovations in 2010 and is located close to Dash Point State Park. The one-story building is situated on 2.8 acres, and the property features 140 parking spaces.
