As you may have heard, the Safeway corporation was recently bought up by Cerberus Capital Management. Most of Safeway's stores on the west coast where real estate values are soaring and retailing is not. The Chronicle speculates that the new owners are going to try to recoup their investment by selling high value properties to real estate developers. The Palo Alto store will likely be high on their disposal list. Would would you like to see at that location? More condos?
Chronicle: Web Link