WOODLAND HILLS, CA-NewMark Merrill Cos. has acquired properties in Los Angeles, Colorado and Illinois that boost the retail investment and development firm's portfolio to six million sf. The most recent deals include the acquisitions of three centers in Colorado for approximately $30 million, bringing the Woodland Hills-based company's 2006 acquisitions to 750,000 sf and $100 million.
In addition to two Colorado deals already reported on GlobeSt.com, the acquisition of the 80,276-sf Cottonwood Corners in Fort Collins and the 105,064-sf Broomfield Plaza in Broomfield, Newmark Merrill has acquired the 96,153-sf Summit Square in Westminster.
The locally based company paid $8.35 million for the center, which is anchored by Safeway and is located at the northeast corner of 84th Avenue and Federal Boulevard. Newmark Merrill was represented by its chairman and CEO, Sandy Sigal, along with leasing director Jim Patton and Allen Ginsborg of Poudre Partners.
Sigal notes that in addition to expanding its holdings via acquisitions, the company is developing new shopping centers in California in the cities of Ontario, Thousand Oaks, San Diego and Rialto, and remodeling existing centers in Oceanside, Carson and Upland. In Whittier, the company earlier this year acquired a Big Lots center for repositioning at the northwest corner of Whittier Boulevard and Painter Avenue that is expected to play a key role in the revitalization of Whittier Boulevard.
In addition to the three Colorado deals and the California acquisitions and developments, the company earlier this year bought the 358,000-sf Stratford Plaza in Bloomingdale, IL for $50 million in Newmark Merrill's first entry in the Chicago market. The company has since renamed the property Stratford Crossing.
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