Colorado-Real-Estate-Journal_423399

October 2-15, 2024 - Page 17 www.crej.com PROFILE Vestar’s Formula for Success: Creating Community-Centered Hubs at The Orchard Town Center and Bowles Crossing First American Exchange is a Quali ed Intermediary and is precluded from giving tax or legal advice. Consult with your tax or legal advisor about your speci c circumstances. First American Exchange Company, LLC makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Exchange Company, and rstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its af liates. ©2019 First American Financial Corporation and/or its af liates. All rights reserved. NYSE: FAF 800.833.4343 q www. rstexchange.com Looking to get the most out of your next 1031 exchange? We understand the real estate landscape is ever-changing,and so is your real estate portfolio. Through nancial strength, solid credentials and expert handling of your tax-deferred exchange, we help you reap the rewards of your investment. Steve Chacon, CPA CES® , Vice President 303.876.1161 | schacon@firstam.com Spencer Fane LLP | spencerfane.com 1700 Lincoln Street, Suite 2000 Denver, CO 80203 © 2024 Spencer Fane LLP. The choice of a lawyer is an important decision and should not be based solely on advertisements. Structuring a wide variety of real estate transactions nationwide , our Real Estate Transactions team advises on everything from standard purchases and sales and commercial leases to sophisticated like-kind exchanges under Section 1031 of the tax code and opportunity zone projects. Our attorneys help individuals and companies across a spectrum of industries to understand and manage risk as they decide whether to proceed with a transaction opportunity related to the purchase, sale, development, and exchange of real estate. Closing deals as smoothly and ef ciently as possible. We advise on a wide range of transactions, including those involving raw land, partially developed property, commercial buildings, of ce buildings, retail shopping centers, hotels and resorts, medical and research facilities, industrial facilities, manufacturing facilities, warehouses, apartment complexes, student housing, condominiums, senior housing, independent and assisted living, and single and multifamily developments. A new wave of businesses is set to open at both properties in the coming year as Vestar continues to thrive by prioritizing community needs and offering a diverse, dynamic mix of tenants At Vestar, our focus goes beyond leasing spaces – we create vibrant community hubs where people come to shop, dine, connect and immerse themselves in mean- ingful experiences. Our suc- cess is built on understanding what our communities need and responding with destina- tions that evolve alongside them. This approach has driven the growth of The Orchard Town Center in Westminster and Bowles Crossing Shop- ping Center in Littleton. Both properties are thriving, with a diverse lineup of exciting new tenants set to open in the coming year, already creating a buzz within their communi- ties. This demand stems from our commitment to creating spaces that not only meet the needs of the people who visit and live nearby but also enhance the overall value and synergy of the projects. We carefully consider the strate- gic fit of each tenant, ensur- ing that every addition aligns with the broader vision and contributes positively to the community experience. In the 2010s, we recognized a growing shift from tradi- tional retail centers to mixed- use destinations that blend retail, dining, entertainment and more. We responded by evolving our strategy to cre- ate hubs where people can gather, shop and engage in meaningful ways – all in one place. This future-focused approach, which balances the excitement of bringing in new tenants with a commitment to the ongoing success of exist- ing ones, has helped ensure long-term sustainability and growth for our properties. Our leasing strategy is always customer-centric, thoughtful- ly planning spaces that create a more efficient and enjoyable experience for everyone who interacts with our centers, whether they’re visitors, ten- ants or members of the local community. The Orchard Town Center, for instance, is designed as a gathering space for the West- minster area. Events like the “Bubble Bash” and regular farmers markets have made it a popular spot for families and visitors alike. Combined with a roster of national and local brands, the center has seen impressive growth, reaching a more than more than 90% lease rate in the 1.2 million-square- foot project. We’ve secured direct deals with new tenants Rally House, J. Crew Factory, Cozy Coffee Co, Zagg and Activate. Additionally, Warby Parker and Pandora will join our list of direct deals, while P.F. Chang’s worked with the individual pad owner to final- ize their lease. In terms of openings, J. Crew Factory, Cozy Coffee Co, and Zagg are slated to open early this fall, with P.F. Chang’s expected by the end of the year. Activate and Warby Parker are both set for 2025, ensuring an ongoing stream of excitement and activity at The Orchard. Similarly, Bowles Crossing Shopping Center has become a focal point for Littleton resi- dents. Post-pandemic, sub- urban centers have seen a resurgence in foot traffic as consumers seek convenient, Orchard Town Center Bowles Crossing Please see Vestar, Page 36

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