NewMark Merrill Cos., a Calabasas, California-based shopping center owner and development company, is launching a new firm focused on retail centers in undersupplied markets. NewMark Merrill Hadler Community Partners will acquire, develop, manage and operate the centers.
NewMark Merrill President and CEO Sandy Sigal co-founded the new firm, and portfolio manager Jermaine McMihelk returned to NewMark Merrill to oversee day-to-day operations as managing director. He previously served as an asset manager with Primestor Development, where he led the operations and performance of grocery-anchored shopping centers held in partnership with Federal Realty Investment Trust. Prior to that, he spent five years at NewMark Merrill and also founded an investment business in which he opened the first Black-owned 7-Eleven franchise on Crenshaw Boulevard in Los Angeles County.
“We have always focused on under-invested communities with projects in Inglewood, Rialto and others, but now we have a dedicated company and team providing these markets with the focus that they deserve,” Sigal said in a statement.
NewMark Merrill owns or manages a portfolio of more than 100 shopping centers valued at over $3 billion.
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