San Diego, CA (May 2, 2024) – NewMark Merrill Companies, Inc. has been awarded property management of one of the premier community shopping centers in South Orange County, Plaza de la Paz, a 294,566-square-foot retail destination located at La Paz Road and Pacific Park Drive in Laguna Niguel. The property is owned by entities controlled by Horowitz Group of Newport Beach.
“We are looking forward to working with the team at NewMark Merrill,” said Brian Meihaus Senior Vice President, Horowitz Group. “We recently completed a substantial redevelopment of Plaza de la Paz, and the shopping center is well positioned for continued success serving this community. NewMark Merrill’s experience making similar shopping centers the preferred shopping destination is the key reason we chose them to be our property manager,” said Meihaus.
This expands the portfolio footprint of the San Diego Division of NewMark Merrill Companies to more than 3.5 million square feet of space spanning more than 30 shopping centers in the region. The company owns and manages for its own account and for other prominent retail owners in the market.
According to Placer.ai, Plaza de la Paz draws more than 4 million visitors annually. Its anchor tenants include Sprouts, CVS, Home Depot, Unleashed by Petco, Off Broadway Shoes, Chipotle, Taco Bell and McDonald’s, as well as a host of other local merchants like High Tide Coffee, Rock N’ Road Cyclery, and Mangia Bene! Cucina.
NewMark Merrill plans to continue the commitment to providing the highest-level retail shopping experience at Plaza de la Paz, by working closely with the existing merchants, the community, and the City of Laguna Niguel. “We are thrilled to announce our management of Plaza de la Paz, a key retail destination, rich in tradition and history within Laguna Niguel,” said John F. Hickman Managing Director, NewMark Merrill Companies, South. “Our focus will be on enhancing the shopping experience, introducing exciting new services, and ensuring Plaza de la Paz remains a vibrant community hub for all to enjoy,” said Hickman.
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns or manages a portfolio of over 100 shopping centers valued at more than $3 billion. Since 1987 President and Chief Executive Officer Sandy Sigal has led the company of shopping centers representing over 2,000 tenants and 12 million square feet in California, Colorado, and Illinois. The Company has founded and invested heavily in BrightStreet Ventures, its technology company, which is working on leading edge solutions for landlords and tenants to succeed in today’s retail environment. For more information, please visit NewMarkMerrill.com.