"NewMark Merrill Companies has had considerable success in projects such as Bristol Warner Village, which have a superior location but require updating to attract new tenants. We feel this will make an excellent addition to our portfolio of over 40 retail assets, says Sandy Sigal, president of NewMark Merrill.

Located at the southeast corner of Bristol Street and Warner Avenue, the new owner plans to rehab the center to attract national chain stores, better positioning it in the community. LHA Associates of Los Angeles has been selected to do the design and elevation work, giving the 20-year old center a facelift. Work will include new signage, lighting, parking surfaces and architectural enhancements.

"While the center is currently 100% leased, a strong location with a traffic count in excess of 65,000 cars a day and a one-mile population of 35,000 people provides us with an opportunity to add several outstanding new retailers to better serve the community," says Jim Patton, director of leasing and acquisitions for NewMark Merrill.

Scott Hook of Marcus & Millichap's Newport Beach office represented both the buyer and the seller, locally based GVD Commercial Properties Inc.

Established in 1984, NewMark Merrill Companies has managed and/or developed 3.5 million sf of shopping-center space in 20 cities throughout California, Nevada, Colorado and Texas.