REAL ESTATE

Twin Peaks in Longmont, Colo., closer to redevelopment

BY Michael Fickes

Longmont, Colo. — NewMark Merrill Mountain States has taken possession of the Dillard’s building at the former Twin Peaks Mall, a key step in the redevelopment of the center as the Village at the Peaks shopping center.

Demolition of the old Twin Peaks Mall is set to begin early in the summer of 2014, paving the way for the new shopping destination, Village at the Peaks, to open in 2015.

Already announced retailers for the new Village at the Peaks project include key anchors Whole Foods, Sam’s Club and a state-of-the-art Regal Cinema. NewMark Merrill expects to announce additional retailers representing nearly 65% of the available square footage in the coming weeks and months.

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REAL ESTATE

SVN Crossroads to manage Hoffman Estates, Ill., center

BY Michael Fickes

Schaumburg, Ill. — Caruso Development has awarded the property management contract for Barrington Square, a 101,500-sq.-ft. retail center in Hoffman Estates, Ill., to SVN Crossroads Management. Situated in high-traffic areas in Chicago’s northwest suburbs, Barrington Square’s tenants include America’s Bar and Grill, GiGi’s Playhouse and Poplar Creek Bowl.

Currently SVN Crossroads manages a portfolio of more than two million sq. ft.

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REAL ESTATE

CBRE: VERTS expands to Dallas and Houston

BY Michael Fickes

Austin, TexasCBRE has announced three more Austin-area locations for local fast casual restaurant VERTS, bringing its store count to 10. In 2014, VERTS plans to open 13 new locations, including expansions into Dallas and Houston.

The newest locations are in North Austin. Locations in Round Rock and Cedar Park will open in the next two months.

In Houston, VERTS has signed leases at Washington Heights, Vintage Marketplace, River Oaks Plaza and Cyfair Town Center, and there are more on the way.

The first Dallas-area location will open at Jellico Square in Southlake.

VERTS is built around Döner Kebap, Germany’s favorite street food, and is one of the first to bring authentic Döner Kebap to the United States. CBRE is the exclusive tenant representative for VERTS throughout Texas.

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