The Safeway location in Cherry Creek - which has sat on the corner of 1st Avenue and Steele Street for the past 51 years - will close by the end of the year.

Safeway announced Friday the store's lease has been given a termination date of Jan. 4, 2018 by the owner and manager of Cherry Creek Shopping Center, Taubman Centers.

The president of the Denver Safeway/Albertson's division, Todd Broderick, said in a statement that the store was 'disappointed' about the termination of the lease.

Broderick added the company would hope to open up another location somewhere near the mall as part of a long-term redevelopment plan.

About 70 employees work at the Cherry Creek grocery store. A press release from Safeway said it is'committed' to working to place all those employees at other nearby stores.

No specific date has been set for the closure.