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Real Estate
Reply to "Palisades: Safeway is closing"
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[quote=Anonymous]So what does this new law mean, in reality, for the Palisades? I'm curious as to how this will play out. At this point, will Safeway continue to entertain offers to sell the property? If they are choosing between two offers at the same prices, and Offer A is from a developer who just wants to build condos and Offer B is from a developer who wants to build a grocery store AND condos, Safeway is free to accept either offer? Will re-development of this land be tied up for years? Can/will Safeway just close the store while this redevelopment is pending, or is it still more profitable for them to keep the store open until the property is finally sold? [/quote]
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