We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The stand-alone store will occupy 100,000 square feet of space. Fort Collins-based NewMark Merrill Mountain States is not disclosing the retailer’s name, citing contractual arrangements.
Allen Ginsborg, the company’s managing director and principal, told the Longmont City Council Tuesday night that the retailer is under contract.
Another NewMark Merrill representative, leasing associate Ross Carpenter, said Wednesday that the company is talking with natural grocery retailers, local breweries and restaurants about becoming tenants at Twin Peaks’ new “retail village.”
“Longmont is a really robust market with a lot of discretionary income,” Carpenter said. “You have the Boulder incomes without the Boulder housing prices, so there’s quite a bit of pent-up demand for a natural grocer.” Natural grocers Lucky’s Market, based in Boulder, and Sprouts Farmers Market based in Boulder and Phoenix, have plans to open stores in Longmont in early 2013.
NewMark Merrill hopes to break ground on the $80 million “retail village” project at the Twin Peaks Mall site in 2013, Ginsborg said. A design plan shows Twin Peaks becoming a four-building project built around a central promenade and fountain. A new movie theater is planned. Dillard’s, which owns and operates its store, will be converted into a free-standing store.