NewMark Merrill Lands 1M-SF Assignment

WOODLAND HILLS, CA-NewMark Merrill Cos. has landed the property management assignments for four shopping centers in Southern California and Illinois totaling more than 1.1 million square feet. The properties include: Grand Plaza, Nordahl Marketplace, Peru Marketplace and Heritage Plaza. The four centers are owned by affiliates of both World Premier Investments and United American Properties.

Grand Plaza Grand Plaza is located along Highway 78 at Las Posas Road in the north county area of San Marcos, CA, in San Diego County. The center totals more than 356,000 square feet, with a tenant roster including Sprouts, Nordstrom Rack, Ross, Bed Bath and Beyond, Marshalls, Sports Chalet, Petco, Lane Bryant, Party City and many more. The center is 95% leased, with leasing handled by Cushman & Wakefield of San Diego.

Nordahl Marketplace is also located along Highway 78 at the northwest corner of Highway 78 and Nordahl Road, also in San Marcos. The center totals more than 315,000 square feet and is home to Wal-Mart, Kohl’s, Guitar Center, Payless Shoes, Burger King, Starbucks, Coldstone Creamery and several others. Built in 2003 and remodeled in 2007, it is 96 % leased, with leasing by Cushman & Wakefield.

Heritage Plaza is a 119,000-square-foot center along Arlington Avenue in Riverside, CA, that is home to many retailers, including Albertsons, 99 Cent Only Store, Starbuck’s Coffee, Subway, Rent A Center, Radio Shack and Yum Yum Donuts. Leasing is handled by Colliers International.

Peru Marketplace is a 362,463-square-foot center at Route 251 & La Salle in Peru, IL that is home to Wal-Mart, GameStop, Kohl’s and opening soon PetSmart. The properties are all dominant in their respective markets, according to John Hickman, managing director of NewMark Merrill Cos. According to Sandy Sigal, president and CEO of NewMark Merrill, the company's retail portfolio now exceeds eight million square feet under management, including its owned assets.