Chicago Business Journal: Newmark Merrill expands further in Chicago with Marketplace at Six Corners acquisition

NewMark Merrill Cos. Inc. has acquired the Marketplace at Six Corners retail center in Portage Park as the Southern California retail real estate company continues to expand in the Chicago market.

The 117,000-square-foot shopping center, sold by IRC Retail Centers/DRA Advisors, is anchored by a 70,000-square-foot Jewel-Osco store. The property was managed by Pine Tree.

Financial terms of the sale were not disclosed.

This acquisition follows two Chicago neighborhood retail centers purchased by the Calabasas, California-based investor last October.

At that time, Sandy Sigal, president and CEO of NewMark Merrill, told the Chicago Business Journal that the company was seeking opportunities to acquire grocery-anchored retail centers “to expand in Chicago” and is “looking at areas within 90 miles in all directions of downtown Chicago.”

Not counting Marketplace, NewMark Merrill’s Illinois portfolio includes six Chicago-area retail properties totaling more than 1.4 million square feet, according to its website.

Rick Drogosz with Mid-America Real Estate Corp. represented IRC Retail Centers/DRA Advisors in the transaction.

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