FAIR OAKS, CA—NewMark Merrill Companies, a Woodland Hills, CA-based retail shopping center development company, currently owns or manages a portfolio of more than 78 shopping centers in Colorado, Illinois and California, including three centers in the Sacramento area. It has just added another property to its Sacramento roster.
Madison Marketplace is a 258,981-square-foot shopping center located at the southwest corner of Madison and Hazel avenues. It has been acquired for an estimated $46.65 million, GlobeSt.com learns. The seller was TA Realty.
“NewMark Merrill is strategically looking to grow our presence in the Sacramento area by adding centers, through acquisitions, development or third-party management, that complement our existing portfolio and where there is an opportunity to use our expertise to add value,” said Sandy Sigal, president and chief executive officer of NewMark Merrill Companies. “Madison Marketplace provided us an opportunity to acquire the dominant grocery-anchored center in the area with strong demographics, great co-tenants and an amazing location. Fair Oaks is rapidly growing, has a great employment base, and has great retail and housing options.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
