NewMark Merrill Cos. is a firm that will have a lot to share on Thursday and Friday at the ICSC Western Division Conferece at the San Diego Convention Center (booth 1136). Their redevelopment pipeline is strong in this environment. Among those are Twin Peaks Mall, in Longmonth, CO.; Park Plaza on Maine, in Baldwin Park, CA; and Winston Plaza, in Melrose Park, IL. Sandy Sigal, the firm's president and chief executive officer spoke with us about the acquistiion market, California and strong tenants.

GlobeSt.com: What is the acquisition market like out there right now?

Sandy Sigal: It’s been competitive, it’s stayed competitive and it’s gotten even more competitive. The market is really broken into two pieces: “A” and “F” properties. If it has real cash flow and stability to it, it’s trading at almost record caps. If it’s a workout or there’s a real flaw in it, it just doesn’t trade period. There’s no more grayness right now, no more “B,” “C,” or “D.” Value-add trade properties a trading at the value that you could potentially create, minus 25 or 35 bps. It’s amazing. If you put value-add as the description of a property, the bidders come out of the woodwork. You have plenty of value-added funds that want to buy value-added properties, even if they aren’t value add.