Contact:
Meghan Dougherty, KS Communications
720-560-0177
or
Malaika Jenkins, NewMark Merrill Mountain States
818-426-2354
FOR IMMEDIATE RELEASE
NEWMARK MERRILL MOUNTAIN STATES SELLS 13-ACRE PARCEL TO SAM’S CLUB
-Construction for New Village at Peaks Kicks off on August 1, 2014-
LONGMONT, Colo.,July XX, 2014 – NewMark Merrill Mountain States announced today that Sam’s Club has purchased an approximately 13-acre parcelon site to build its new Longmont store at Village at the Peaks.Sam’s Club plans to build a new 136,000 square-foot store to anchor the northernmost location in the project.
“This is a key milestone for the new project demonstrating Sam’s Club’s commitment to the Village at the Peaks and our strong positive leasing momentum,” said Allen Ginsborg, Managing Director and Principal of NewMark Merrill Mountain States. “We are reinvesting fundsfrom this sale right back into the project to make site improvements – all in line with the project’s planned opening in late 2015.”
Sam’s Club was represented bybrokers Christopher Burton and Blake Skinner at Legend Retail Group.
"Sam's Club has listened to our members and chosen the Village at the Peaks in Longmont, Colorado, as its primary Boulder County location due in part to exceptional growth in Longmont and the community's strong interest in fresh products and quality merchandise,” said Mark Scott, a spokesperson for Sam’s Club. “Longmont has grown significantly in the past decade and is now a major retail and employment hub for Boulder County. The Village at the Peaks is located at the primary shopping crossroads for the region, which makes this a highly desirable location for us. Sam's Club is eager to serve Longmont by opening a new club at the Village at the Peaks."
Building on this leasing momentum, Village at the Peaks is hosting a groundbreaking and demolition eventon Friday, August1, from 3 pm to 5 pm, on the north side of the parking lot off Hover Road in front of the old Sears building.The public is welcome to celebratethe tearing out of a piece of the old Twin Peaks Mall and the start of construction of the Village at the Peaks, along with refreshments and entertainment. Special guests will include officials from the City of Longmont, Longmont Chamber of Commerce, St. Vrain Valley School District and I Have a Dream Foundation of Boulder County.
NewMark Merrill partnered with Habitat for Humanity and ReSource of Boulder County for the deconstruction that involved removing, donating, auctioning, reusing or recycling as much of the old building as possible.
Already announced retailers for Village at the Peaks include key anchors Whole Foods, Sam’s Club, Gold’s Gym and a state-of-the-art Regal Cinema. Additional announced tenants include Wyatt’s Total Beverage, a high-quality wine and spirits store, restaurants including one of Colorado’s first locations for The Melt, a popular West Coast eatery featuring grilled cheese and much more, Bad Daddy’s Burger Bar, Parry’s Pizza and more great names.
When it opens in late 2015, the formerly enclosed mall will be transformed into an all-new, 480,000 square-foot retail destination that will showcase the exceptional mountain views of Longs Peaks to create a unique place to gather in this thriving Northern Colorado community in Boulder County. This open-air retail destination will offer unique shopping experiences, top-notch restaurants and state-of-the-art entertainment. The project will eventually represent more than $85 million dollars in total investment and generate more than 300 full-time jobs.
About NewMark Merrill
The new Village at the Peaks is a project of NewMark Merrill Mountain States. Based in Fort Collins, Colo., NewMark Merrill Mountain States was established in 2006 under the guidance of Managing Director and Principal Allen Ginsborg, an accomplished retail real estate professional and longtime Northern Colorado resident. Led by Ginsborg, NewMark Merrill Mountain States has continued to grow its approximately two million-square foot Colorado portfolio in the targeted areas of retail real state ownership, third party asset management and development.
NewMark Merrill Companies, under the leadership of founder and CEO Sandy Sigal, manages and/or owns a portfolio of more than 75 shopping centers in three states, representing over $1 billion in assets, 10 million square feet and 1,500 tenants. The Company has almost 30 years of experience in providing a high level of service in property management, development and asset management for its own account and long-term clients.
NewMark Merrill Companies has ranked among the 20 Largest Property Management Firms and 10 Largest Commercial Real Estate Developers from 2007-2011 by the Los Angeles Business Journal. The Company is based in Woodland Hills, Calif., with regional offices located in Orange County, Ventura County, Sacramento, San Diego County, Colorado and Illinois.
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