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DENVER -- Hampton Retail Investors, LLC, a joint venture between Hampton Partners of Denver and Inland West Real Estate Partners of Chicago, yesterday acquired 17 former Albertsons stores along the Colorado Front Range.
The stores, vacated by Albertsons in 2006, include 11 sites in the Denver Metro area, three sites in Colorado Springs and additional sites in Loveland, Greeley, and Security, Colorado. They comprise over 780,000 square feet.
The new owners said they plan to invest an additional $30 million over the next two years to renovate the 17 retail facilities.
"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.
Debbie Tamlin of ZTI Group, in Ft. Collins, will be responsible for management and leasing of the assets. She is also a partner in Hampton Retail Investors, LLC.
Hampton Partners is owned and managed by brothers Jeff and Scott Robinson. The company is negotiating to develop other high profile sites near downtown Denver.