Santa Maria, Calif., (January 24, 2022) – As retail real estate continues to evolve, NewMark Merrill Companies, Inc., a Woodland Hills, CA based retail shopping center owner and developer, announced that it has recently purchased North Broadway Plaza, a grocery-anchored, 97,555-square-foot neighborhood retail center located at the at the NE corner of N. Broadway & E. Grant Street.
NewMark Merrill added this community shopping center to its portfolio of over 70+ shopping centers in California and will serve as property manager of center. North Broadway Plaza is the fourth shopping center acquired by NewMark Merrill since the COVID-19 pandemic began in March 2020 representing over $120M in investment, which demonstrates their faith that bricks and mortar retail is critical to communities no matter the environment. Currently the company owns and manages a portfolio of over 90 shopping centers valued at more than $2 billion in California, Colorado, and Illinois.
“NewMark Merrill is committed to the local community through direct outreach, promoting the center’s businesses and operators, and supporting the neighborhood and its residents who are and will be customers and employees of the merchants at North Broadway Plaza,” said Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. “We will continue to showcase North Broadway Plaza as an integral place to meet the needs of residents in the Central Valley and Santa Maria.”
Reza Investment Group represented NewMark Merrill and the seller in the acquisition.
Located in North Santa Maria, North Broadway Plaza is one the busiest in the area with more than 100,000 people living within a five-mile radius. Food Maxx and CVS anchor the center with Goodwill, Chase and Verizon serving as co-tenants.
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns and manages a portfolio of over 90 shopping centers valued at more than $2 billion. Since 1987, President and Chief Executive Officer Sandy Sigal has led the company of shopping centers representing over 2,000 tenants and 10 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.