Safeway Inc., Pleasanton, Calif., completed the sale of $830 million in shopping center and real estate, ahead of the completion of its merger with Albertsons, expected to finish in January.
Safeway sold the assets through its subsidiary Property Development Centers LLC to Terramar Retail Centers LLC, according to a Safeway news release.
The Safeway/Albertsons merger was announced in March and is awaiting Federal Trade Commission approval. About a week ago, Bellingham, Wash.-based Haggen Inc., announced plans to purchase about 150 Safeway and Albertsons stores on the West Coast.

 

Safeway sells real estate for $830 million ahead of mergerSafeway Inc., Pleasanton, Calif., completed the sale of $830 million in shopping center and real estate, ahead of the completion of its merger with Albertsons, expected to finish in January.

Safeway sold the assets through its subsidiary Property Development Centers LLC to Terramar Retail Centers LLC, according to a Safeway news release.

The Safeway/Albertsons merger was announced in March and is awaiting Federal Trade Commission approval. About a week ago, Bellingham, Wash.-based Haggen Inc., announced plans to purchase about 150 Safeway and Albertsons stores on the West Coast.