Seven months after buying the north side of the beleaguered and near empty Loveland Outlets, Schuman Cos. has purchased the south side for $12.3 million, completing the purchase of the 315,000-sqare-foot site for a total of $27.3 million.

The Windsor-based company rebranded the outlets as Loveland Yards and has been repositioning the site into retail, office and flex condos for sale and for lease.

Located at perhaps the hottest corner in Northern Colorado, northwest of Interstate 25 and U.S. Highway 34, the 37-acre property had long been considered a prime redevelopment site in Loveland, but California-based owner Craig Realty Group had been reluctant to sell until late last year. Craig had owned the property since 2005.

Since its initial purchase, Schuman has been working on site improvements including new roofs, paint, landscaping, parking, signage and website.

In announcing the sale of the south side, Schuman also released the names of more than 10 tenants who plan to buy or lease suites on the north side: Avery’s Tea House, Slate Studios, Gold’s Gym, School of Rock, CycleBar, Citipointe Church, FyrePro, Ewing Leavitt Insurance and Trek Bicycles, which will likely be the first new tenant to open its doors in July.

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Together, the new tenants will occupy about 71% of the north side, the company said.

“Our goal of repositioning the Yards into a center of commerce powered by local businesses is well on its way," said Schuman Chief Financial Officer Philip Schuman. Exterior improvements should be completed by August, when it will host the first NOCOchella event to raise awareness and support for children with special needs and their families.

“The velocity of tenant commitments at Loveland Yards is proof of concept for Schuman Companies’ vision to create a marketplace catering to Northern Colorado business owners," said Melissa Moran, vice president of CBRE, who along with John Rue arranged the sale and are marketing Loveland Yards.

"The diversity of businesses joining the project creates a compelling mix of goods and services for people in the community and will go far in transforming this location into a daily regional destination,” Moran said.

Condo suites range from 1,000 square feet to 120,700 square feet or larger, with sales prices between $185 and $250 per square feet and lease rates ranging from $16 to $24 per square feet. The property’s zoning allows for retail, office, light industrial/flex and entertainment use.

The outlets had struggled for years as retailers fled the aging development, which in its heyday was at the forefront of Northern Colorado's retail scene.

Schuman is a full-service real estate investment company specializing in property acquisition, development and management. Its Crossroads Commons, at the intersection of Crossroads Boulevard and Centerra Parkway, has a similar model of for-sale and for-lease options.

This article originally appeared on Fort Collins Coloradoan: Former Loveland Outlets fully owned by Windsor company now