Hampton Retail buys 17 Albertsons sites

JV plans to spend $30 million on renovations

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A joint venture this week announced it has acquired 17 former Albertsons grocery stores along the Front Range in Colorado for an undisclosed price. Hampton Retail Investors LLC, a partnership between Hampton Partners of Denver and Inland West Real Estate Partners of Chicago, gained 11 sites in the Denver metro area, three sites in Colorado Springs, and additional sites in Loveland, Greeley and Security. The company plans to invest an additional $30 million over the next two years to renovate the 17 retail facilities, which comprise more than 780,000 square feet. "This acquisition is consistent with our long term strategy to create value through investing in underperforming real estate assets," said Jeff Robinson, managing partner of Hampton Retail, in a prepared statement. ...