New development answers Asheville’s call for restaurants and retail

October 31, 2017

New restaurants and retail are on their way to Asheville, NC at a new retail center opening June 2018 called The Peaks. The project celebrated a kick-off at the site to usher in a new era at the location, which was formerly a UA theater.

The Peaks will occupy a strategic two-acre corner in Asheville’s busy retail area on Tunnel Rd. (Hwy. 70) and S. Tunnel Road, across from Asheville Mall and just west of I-240. The location is where the UA Beaucatcher Cinemas 7 once stood before Southlake, TX-based United Development Company purchased the property March 2015 and razed the aging theater to make way for The Peaks.

United Development Company announced today that Chipolte Mexican Grill, Panera Bread, Rise Biscuits & Donuts and Sleep Number will open in The Peaks. 

The Peaks offers 12 restaurant and retail spaces totaling 33,517 square feet. It is a lifestyle driven center that will sport a unique look and feel with its contemporary mountain style with natural material finishes. There will be storefronts on both sides of the center to activate the street with a pedestrian oriented design, and plaza space will be provided for outdoor dining with views of the mountains.

“The Peaks has been well-thought-out to fit right in with the distinctive lifestyle and character of the community and its beautiful surroundings”, comments Biff McGuire, C.E.O., United Development Company. “The residents of Asheville will be pleased with the new restaurants and retail shops that are coming to The Peaks,” he adds.

Asheville-based pfa architects designed the center and Atlantic Retail Properties is the leasing company. For leasing information contact Robey Spratt (704) 697-1901 or Roy Crain (704) 697-1903. United Development Company, through its investment platforms, has managed more than $500 million of real estate investments over the last 15 years. Utilizing its wealth of both capital and real estate expertise, United Development is aggressively pursuing real estate investments in the United States.