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March 28, 2024
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Phase I of 500k sf CO Lifestyle Center is Complete

8/05/16

Development has been completed on Phase I of the Village at the Peaks, a 500k sf lifestyle center in Longmont, CO. The $90 mil project, a development of NewMark Merrill Companies, is on the site of the former Twin Peaks Mall, at Hover Rd and Ken Pratt Blvd. It is situated just 15 minutes from Boulder County’s thriving tech corridor.

Phase I of Village at the Peaks totals 460k sf, the majority of the space. The second phase, consisting of the remaining 40k sf, is currently being marketed for lease.

NewMark Merrill originally purchased the property -- then Twin Peaks Mall, which was 50% vacant at the time -- in 2012 for $8.5 mil. The firm formed a public private partnership with the City of Longmont, which led to a $32 mil Metropolitan District public bond that netted $27.5 mil towards the development costs.

Construction on Village at the Peaks started in August of 2014. The project entailed demolishing all of the Twin Peaks Mall, aside for a single, 94k sf former Dillards store building, which has been converted into space for five smaller tenants.

Village at the Peaks is already at 90% occupancy, including new leases with 30 local, regional and national retailers, restaurants and services. These include anchor tenants Whole Foods Market, Sam’s Club and Regal Cinemas.





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