Inland Western Retail Real Estate Trust Inc Announces Two New
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OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Western Retail Real Estate Trust, Inc. ( Inland Western ) and Hampton Partners LLC today announced the signing of two leases with Sprouts Farmers Market, one of the fastest growing retail grocers in the country, in two Denver locations owned in a joint partnership between Inland Western and Hampton Partners. The leases were signed at two former Albertson s sites, located at 5150 W. 120th Avenue in Westminster Colorado, and 9751 S. Parker Road in Parker, Colorado, for 27,000 square feet and 25,000 square feet respectively. Debbie Tamlin of ZTI Group in Fort Collins represented the joint venture in the transaction, which represents Sprouts Farmers Market s entry into the Colorado market.
Inland Western Retail Real Estate Trust, Inc. is a self-administered real estate investment trust focused on the acquisition, development and management of retail properties, including lifestyle, power, neighborhood and community centers, in addition to single-user net lease properties in locations demonstrating solid demographics. Additionally, the company is expanding both its development and institutional joint venture platforms. As of September 30, 2007, the portfolio consisted of 305 properties totaling approximately 46.2 million square feet located in 38 states. Inland Western is one of four REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc., which collectively owns and manages over $20 billion in assets. For further information, please see the company website at www.inland-western.
Hampton Partners is owned and managed by brothers Jeff and Scott Robinson. In addition to this venture, presently Hampton owns or manages over $100 million of investments in the Western Untied States. In the Denver area, the company is currently working on redevelopment plans for the 700 block of East Colfax, between Washington and Clarkson that currently houses Argonaut Wine and Liquor, and is negotiating to develop other high profile sites near downtown Denver.
Sprouts Farmers Market, an Arizona based company, is one of the nation's fastest growing retailers sprouting in Arizona, California and Texas. Sprouts specializes in farm fresh produce, purchased from local growers when possible. Sprouts also offers a large selection of vitamins and supplements, all natural meats, fresh seafood, bins full of bulk foods, an extensive selection of natural and organic grocery items, rBST free milk, imported cheeses, deli meats and more. Customers enjoy a friendly, educated staff in a fun and easy-going atmosphere. Sprouts proudly supports local communities with product donations, sponsorships, educational events and more.
This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical, including statements regarding management s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as believe, expect, anticipate, intend, estimate, may, will, should and could. The company intends that such forward-looking statements be subject to the safe harbors created by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. There are numerous risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. For a more complete discussion of these risks and uncertainties, please see the company s Annual Report on Form 10-K for the year ended December 31, 2006, and each Quarterly Report on Form 10-Q filed thereafter. Inland Western Retail Real Estate Trust, Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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