"The acquisition of Southgate Plaza in Sacramento was a perfect opportunity for us to add to our portfolio of shopping centers by acquiring an asset that fits well into our investment philosophy," Sandy Sigal, president and CEO of NewMark Merrill Companies, tells GlobeSt.com. "The center is well located on the two major streets–Franklin and Florin, and adjacent to the 99 Freeway, a major arterial for Northern California. The population and demographics are solid with an untapped demand for retail, and while we were managing the center, we were able to attract three daily needs retailers–99 Ranch Market, Wal-Mart Grocery and 99c Only Stores–as well as three soft goods retailers–Ross, Sketchers and Avenue–all performing very well. Finally, the center has upside through the ability to lease additional space including an almost 80,000-square-foot major tenant vacancy and a corner pad. With our experience of managing the center for over five years from the prior owner, we are strong believers that Southgate will be a great addition to our portfolio."

Instant Insights /

Most Indications Point to a Sacto Comeback

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