Home Real Estate NewMark Merrill Acquires Retail Adjacent to Its Janss Marketplace
Real Estate

NewMark Merrill Acquires Retail Adjacent to Its Janss Marketplace

NewMark Merrill Companies acquired a 172,008-square-foot retail center renamed the Collection at Janss Marketplace from Seritage Retail Group for an undisclosed sum. The center is adjacent to the Janss Marketplace shopping center, a 458,000-square-foot neighborhood shopping center in Thousand Oaks, which the company has managed and leased for more than 20 years.  

The Collection shares parking and access points with the adjoining Janss Marketplace. It’s also directly across the street from The Oaks Mall, a super-regional enclosed mall. 

“Rarely do you get the opportunity to be involved with a project adjoining not one, but two regional shopping centers, and surrounded by both a substantial day and nighttime population.,” said Sandy Sigal, president and CEO of NewMark Merrill. 

The acquisition was overseen by Sigal and NewMark Merrill’s Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison. Seritage was represented by CBRE’s Phil Voorhees and Jimmy Slusher. Bryan Gortikov with Gortikov Financial secured financing for the deal with Prime Finance. 

Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...