News

Village at the Peaks, Longmont, Colo.

BY CSA STAFF

A huge redevelopment in Longmont, Colo., now has big new tenant names to promote. NewMark Merrill Mountain States has just named three new anchors for the redeveloped Twin Peaks Mall: Longmont’s first Whole Foods Market; a new, state-of-the-art Regal Cinemas; and Sam’s Club. The project, which is slated to open in 2014, also unveiled its new name – Village at the Peaks.

The new Whole Foods Market at Village at the Peaks will be approximately 30,000 sq. ft., and the new Sam’s Club, the only one in Longmont, will be approximately 136,000 sq. ft. Regal Entertainment Group is bringing Northern Colorado its first Regal Cinema’s RPX concept – a 12-screen theater named Regal Premium Experience – to the property.

“With commitments from Sam’s Club, Whole Foods and the new Regal Cinemas RPX, the redevelopment now has three major anchors, and has fulfilled its initial commitments to the City regarding the strength and spectrum of the merchandise mix,” said Allen Ginsborg, managing director and principal of NewMark Merrill Mountain States. "Now that the experience is truly taking shape, the time is right to introduce our new name, Village at the Peaks, which incorporates the best of the current identity and conveys how fresh and inviting the new ‘village’ aspect of the open-air project will be."

The new Whole Foods Market will provide a series of welcome amenities for Longmont shoppers, including potentially a coffee and juice bar, prepared foods bar, florist, as well as its full-service market.

“Our research showed that bringing a top-quality natural grocer to the new project was a high priority for Longmont residents, and it was for us, too," said Ginsborg. “Whole Foods selected Village at the Peaks for its first store in Longmont because this well-situated property will be the dominant center in the greater Longmont trade area and will serve as the true retail hub for this community over the long-term.”

A new, high-quality theatre experience also topped the community’s wish list for the project. The Regal Premium Experience is described by Regal Cinemas as “a custom-built premium environment featuring elegant and luxurious seats with high-back headrests, a giant immersive screen illuminated by high-quality digital projectors and completed with a state-of-the-art surround sound system.” Regal introduced the RPX design and technology in 2010 to compete with IMAX theatres across the country. The new Longmont theatre will feature approximately 2,500 seats and 12 floor-to-ceiling screens to show both traditional and 3D films.

Wal-Mart Stores’ Sam’s Club banner is, said Ginsborg, a key part of the tax increment financing package agreed to by the City.

NewMark Merrill Mountain States is transforming the formerly enclosed mall into an all-new, open-air super-regional destination for shopping, dining and state-of-the-art entertainment. NewMark Merrill, which purchased the property in 2012, is working with the City of Longmont in a public-private partnership to reinvent the cornerstone property into a vibrant, modern retail project that will take advantage of the location’s mountain views and become a center for community life in the Northern Colorado city in Boulder County.

For leasing information, contact Allen Ginsborg (for anchor tenants) 970-377-1135; Ross Carpenter (for shops and pads), 970-377-3230; and Robb Brown (for village leasing), 216-496-6152.


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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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