One of Loveland’s Safeways Bought by Reno Investors for $11M

An investment team bought one of the Safeways in Loveland for just over $11 million. What will that mean for those who shop there?

I remember going to the grand opening of the Safeway that's just been sold. It's the one at Eisenhower and Wilson on the west side of town. It opened in 1984; a friend and I went to check the place out because it was 1984, and we were kids, so of COURSE we had to see a grand opening for ourselves.

The Reporter-Herald has the story on how that particular Safeway (building), which was owned by Albertson's at the time, has been sold to a three-company group out of Reno, Nevada, for $11.4 million.

Interestingly, according to the Reporter-Herald, the County assessor values that Safeway at just under $4 million.

Wow. That is quite a difference.

So, here's some questions that I have about the sale:

• Why did they pay that much?
• Will they keep it as a Safeway?
• If not, what will that building house?

Get more on the sale from the Reporter-Herald HERE.