REAL ESTATE

Twin Peaks unveils new name, trio of major anchors

BY Katherine Boccaccio

Longmont, Colo. — NewMark Merrill Mountain States named three new anchors for the redeveloped Twin Peaks Mall: Whole Foods Market, Regal Cinemas and Sam’s Club.

The project, which is slated to open in 2014, also unveiled its new name – Village at the Peaks.

Whole Foods is making its Longmont debut with a 30,000-sq.-ft. store. Sam’s Club is also making its Longmont entry with a 136,000-sq.-ft. store, and Regal Entertainment Group is bringing Northern Colorado its first Regal Cinema’s RPX concept – a 12-screen theatre named Regal Premium Experience – to the property.

"Now that the experience is truly taking shape, the time is right to introduce our new name, Village at the Peaks,” said Allen Ginsborg, managing director and principal, NewMark Merrill Mountain States.

NewMark Merrill Mountain States is transforming the formerly enclosed mall into an all-new, open-air, super-regional destination for shopping, dining and entertainment. It purchased the property in 2012, and is working with the City of Longmont in a public-private partnership to reinvent it into a vibrant, modern retail project.

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REAL ESTATE

Brixmor names former Kimco COO as new president/CFO

BY Katherine Boccaccio

New York — Brixmor Property Group has appointed Michael V. Pappagallo as president and CFO, effective May 20.

Pappagallo will play an integral role in the execution of Brixmor’s long-term business and capital markets strategy. In addition, he will lead the company’s finance and accounting teams, as well as have functional oversight of its property operations, information technology, acquisitions/dispositions and investor relations efforts.

He most recently served as COO of Kimco Realty Corp., and also was CFO for Kimco from 1997 to 2010.

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REAL ESTATE

Douglas Development adds new retailers to downtown Washington, D.C.

BY Katherine Boccaccio

Washington, D.C. — Douglas Development said that specialty candy store IT’SUGAR will join soft-serve yogurt shop FrozenYo and bar concept Jackpot Tavern in Chinatown, across from the Verizon Center and Gallery Place Metro Station, in Washington, D.C.

The candy store will make its Washington, D.C. debut with a 1,775-sq-ft. store slated to open in August at 714 7th Street. FrozenYo will open its new location at 712 7th Street, in a 1,120-sq.-ft. part of a former Ruby Tuesday space. Jackpot Tavern, a new concept from the owners of Rocket Bar and Iron House, will open its 1,812-sq.-ft. below Lime Fresh at 726 7th Street.

“The city is constantly changing and we are fortunate to be able to provide prime retail space that attracts the type of retailers that transform neighborhoods, such as the new Walgreens flagship store and now, IT’SUGAR,” said Norman Jemal, senior VP, Douglas Development.

Earlier this year, the first Walgreens flagship store in D.C. opened at 801 7th Street. Several other new restaurants have opened or will be opening later this year in Douglas Development-owned Chinatown properties, such as Lime Fresh Mexican Grill Red Apron Butchery, Taylor Gourmet, Panera Bread and new Spy Museum Building restaurants NoPa Kitchen + Bar and Shake Shack.

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