WOODLAND HILLS, CA-NewMark Merrill Cos. has landed new contracts to manage nearly 479,000 sf of shopping center space at four properties in Riverside, San Diego and Los Angeles counties. The development and investment firm manages properties both for others and for its own account.
The contracts are for the 178,020-sf University Village in Riverside, 96,526-sf Mesa Town Center in the Mira Mesa area of San Diego, 140,438-sf San Marcos Village in San Marcos and the 63,529-sf Westridge Center in the San Fernando Valley. NewMark Merrill has been assigned the management, leasing, accounting and marketing for all four of the properties.
University Village, on the northeast corner of University Avenue and Iowa Avenue, is anchored by a Metropolitan University Theater, Starbucks, Togo's, Denny's, the University bookstore and a number of other shops. The center is within walking distance of UC Riverside, directly off the 215 Freeway. Mesa Town Center is anchored by Seafood City, Rite Aid, Hollywood Video and McDonalds, while San Marcos Village is anchored by Sav-U-Foods, Rite Aid and Auto Zone.
Sandy Sigal, the owner and CEO of NewMark Merrill, joined with Jim Patton, director of leasing and acquisitions for the company, in negotiating the contracts for University Village and Westridge Center. For the San Diego properties, Sigal and John Hickman, managing director for NewMark Merrill, conducted negotiations.
In addition to the new management contracts, Sigal notes, the company has more than 530,000 sf in development and more than 244,500 sf projected for redevelopment that it will manage when development of the properties is completed. Sigal founded the company in 1984 and has been involved in the management, acquisition and/or development of more than 5.5 million sf of shopping centers in more than 30 cities.
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