Calabasas, CA. (November 29th, 2023) – NewMark Merrill Companies, Inc., a Calabasas, California-based retail shopping center owner and development company, is pleased to announce it has acquired a 172,008-square-foot retail center renamed the Collection at Janss Marketplace from Seritage Retail Group. The center is adjacent to the Janss Marketplace shopping center, a 458,000-square-foot neighborhood shopping center located on the Northwest corner of Moorpark Road and Hillcrest Drive in Thousand Oaks, CA which the company has managed and leased for over 20 years. The company is now responsible for the oversight of the combined 630,000 square foot regional center.
The Collection was originally built as a multi-story Sears department store was just over 60 percent leased to Dave & Buster’s, DSW and Nordstrom Rack when acquired by NewMark Merrill. The property shares parking and access points with the adjoining property, including a newly remodeled Regal Cinema’s and Gold’s Gym. The Collection is also directly across the street from The Oaks Mall, a super-regional enclosed mall anchored by a full sized Nordstroms, Macy’s, JC Penny’s, Dicks Sporting Goods, AMC Theaters, and many other regional tenancies.
“We have been in involved in the Thousand Oaks community for over 20 years since our initial acquisition of Janss Marketplace,” said Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. “Rarely do you get the opportunity to be involved with a project adjoining not one, but two regional shopping centers, and surrounded by both a substantial day and nighttime population. Not only is their residential community amazing, but so many outstanding businesses, such as Amgen, as well as other biomed and technology companies who operate within the trade area.“
Sigal went on to say “This acquisition is a very exciting addition to our efforts in Thousand Oaks. With the proposed development of a 216-room hotel at Janss, and the proposed designation of the entire Janss Marketplace site to allow mixed use development, we believe The Collection at Janss will be a dynamic destination for the community.”
The acquisition was overseen by Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison of NewMark Merrill. Seritage Retail Group was represented by Phil Voorhees and Jimmy Slusher from CBRE. Bryan Gortikov with Gortikov Financial secured financing for the deal with Prime Finance, the lender.
Janss Marketplace features an outstanding tenant mix of key local, regional and national retailers including Regal Theaters, Old Navy, Aldi, Five Below, Sky Zone, and Buca di Beppo. The center’s location at the northwest corner of Moorpark Road and Hillcrest Drive with over 58,000 daily traffic counts in Thousand Oaks with 155,000 people in the trade area makes it one of the most desirable retail locations in Southern California. Thousand Oaks continually ranks as one of the safest U.S. cities for its size by FBI reporting standards. For more information about Janss Marketplace, visit www.janssmarketplace.com and on Facebook at www.facebook.com/JanssMarketplace.
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns or manages a portfolio of over 95 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 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.