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6/15/15
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Haggen Inc has completed the sale / leaseback of two separate portfolios totaling 39 Haggen Food & Pharmacy grocery stores in the west coast states of WA, OR and CA. Haggen entered into long-term leases for the stores with the new owners.
Earlier, Haggen purchased 146 stores from Albertson’s as part of a $9.4 bil merger between Safeway Inc and AB Acquisition LLC, the owner of Albertson’s LLC. This expansion grew the Haggen Food & Pharmacy portfolio from 18 stores in Washington and Oregon to 164 stores in five western states.
HFF marketed the properties on behalf of Haggen and arranged the floating-rate financing for 19 of the stores. The HFF investment sales team representing the seller was led by senior managing directors Mark West, Timothy Hall and Bryan Ley, managing directors Brandon Chavoya and Coler Yoakam and real estate analysts Michael George and Campbell Black.
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