NewMark acquires California center

11/7/2017
In a buying mode, NewMark Merrill has added Placentia Town Center in Woodland Hills, California, to its expanding shopping center portfolio.

“NewMark Merrill is strategically looking to grow by adding centers, either through acquisitions or third-party management, that complement its existing portfolio and where there is an opportunity to use our expertise to add value," said CEO and president Sandy Sigal.

Anchored by Marshall’s and Ross Dress for Less, the 116,832-sq.-ft. also includes Bank of America, Baskin Robbins, The Whole Enchilada, and Craftsman Pizza. It is 96% leased.

Executive managing director Pete Bethea, and senior managing directors Rob Ippolito and Glenn Rudy represented the seller, RPAI.

“Placentia Town Center is within a very densely populated north Orange County area and has demonstrated strong historical tenancy and sales,” said Bethea.

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