A joint venture is buying 17 former Albertson's grocery stores from Loveland to Colorado Springs and plans to renovate them over the next two years.
Terms of the acquisition weren't disclosed by the joint venture called Hampton Retail Investors LLC. It was formed by Hampton Retail Partners of Denver and Inland West Real Estate Partners of Chicago.
The store sites include 11 properties in metropolitan Denver, three in Colorado Springs, and one each in Loveland, Greeley and Security. Albertson's closed them in 2006.
Hampton Retail will spend about 30 million dollars over the next two years to renovate the properties.