DENVER – A long-standing retail fixture in the Cherry Creek shopping district is closing its doors.
Safeway announced Friday that it plans to close its Cherry Creek location at 1st Avenue and Steele by the beginning of next year. The store has served the area for more than 50 years.
The decision to shutter the store comes after Cherry Creek Shopping Center management decided not to extend the store’s lease agreement, which originally expired at the end 2015.
Although no specific date has been set for the closure, the store intends to clear out before the existing lease expires on Jan. 4, 2018.
The general manager of Cherry Creek Shopping Center, Nick LeMasters, said in a statement Friday that Safeway “has been an excellent tenant and a valued part of the community,” but noted that several other grocery options exist within a few short miles of the soon-to-be-closed store.
The move marks the shopping center’s continued shift away from traditional outlets as it tries to lure more upscale retailers, like the recently-opened Restoration Hardware.
The shopping center has not said what type of development will move into the space once Safeway moves out.
Safeway said it plans to place all 70 Cherry Creek employees at other nearby stores.