A former Safeway retail site in downtown San Jose is on the market, raising questions about the urban core's vitality. Located near San Jose State University, the 24,100 square feet of retail space has been vacant for over six years since Safeway's closure in 2019. Experts suggest subdividing the space could attract multiple tenants, potentially including restaurants or educational institutions, addressing the challenge of large retail vacancies. Real estate professionals remain optimistic about the site's potential due to its prime location and existing foot traffic.
"Large retail vacancies are a challenge in every city in America," said Mark Ritchie, highlighting the widespread issue that affects urban cores nationwide.
"Maybe the best idea would be to physically divide that into considerably smaller square footages," Ritchie suggested, noting that subdivisions could accommodate multiple businesses in the space.
"This is on a great corner," said Erik Hayden, emphasizing the prime location of the retail space which benefits from high pedestrian traffic.
"In 2019, Safeway closed the market it operated at that location, ending a brief stint at the location," indicating the long vacancy period of over six years.
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