Monroe Safeway sells for $13.14 million

A California businessman purchased the Monroe Safeway property for $13.14 million last month, and the future of the grocery site remains unclear.

Sale of the property, at 19651 U.S. Highway 2, closed on June 21, and was purchased by TMY Monroe LLC, according to the county assessor’s office. The foreign limited liability company is governed by Edward Morimoto of Los Gatos, California.

Morimoto has been the director of his family’s Yuki Farms since April 12, which sold Los Gatos’ last remaining walnut orchard to developer SummerHill Homes in June for $57.3 million.

The land deal and North 40 development project on that land was controversial in Los Gatos, according to the Mercury News, which reported the project was rejected by the city in September 2016. The city was forced to reconsider after a superior court judge ruled “the town was wrong and must reconsider its decision,” according to the Mercury News.

That project includes 320 market-rate homes and 49 low-income rental apartments.

Morimoto did not return a phone call seeking comment about the Monroe Safeway acquisition on Wednesday, which was first reported by the Daily Journal of Commerce.

Morimoto also completed the $37.77 million purchase of a retail center in Woodinville on June 19, under the TMY Woodinville Towne Center, LLC.

Should the Monroe Safeway face closure, it will join Albertsons as another shuttered grocery store in the city.

Albertsons and Safeway were granted permission by the Federal Trade Commission to merge in 2015.

Albertsons announced the closure of two unprofitable stores in Seattle back in May: A Safeway in Greenwood and an Albertsons on Aurora Avenue North. Those properties were quickly sold for a combined $16.52 million, and will likely be leveled for mixed-use residential projects, according to The Registry.

A regional spokesperson for Safeway also did not return a call for comment on Wednesday.