NewMark Merrill completes Colorado ‘lifestyle center’
The first phase of NewMark Merrill’s redevelopment of the Village at the Peaks in Longmont, Colorado — a 500,000-sq.-ft. lifestyle center — has been completed.
The company purchased the 50% vacant Twin Peaks Mall in 2012 for $8.5 million and has since pumped $90 million into construction of the new project in a private partnership with the city of Longmont that included a $32 million public bond.
The developer received promotional support, too, from this community north of Boulder. Ten thousand people attended events at the Village at the Peaks during construction — 8,000 of whom appeared to watch the American Ninjas compete.
"We have achieved our vision to create a state-of-the-art venue to provide a world-class experience for the community to enjoy year-round," said NewMark Merrill’s managing director for the Mountain States Allen Ginsborg.
More than 90% of the property is leased out, according to the developer, to tenants that include Whole Foods, Sam’s Club, and Regal Cinemas. The 40, 000-sq.-ft. phase two is currently being leased.
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