{"id":1004196456,"date":"2017-11-07T07:11:23","date_gmt":"2017-11-07T15:11:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004196456"},"modified":"2022-12-08T21:04:03","modified_gmt":"2022-12-09T05:04:03","slug":"newmark-merill-buys-placentia-town-center-in-ca","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/","title":{"rendered":"NewMark Merill Buys Placentia Town Center in CA"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004196458\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004196458\" data-attachment-id=\"1004196458\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/placentia\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;Joel Zwink&quot;,&quot;camera&quot;:&quot;FC220&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1492682456&quot;,&quot;copyright&quot;:&quot;\\u00a9 Joel Zwink\/Zwink Photography&quot;,&quot;focal_length&quot;:&quot;4.7&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Placentia\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Placentia Town Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg?w=800\" class=\"wp-image-1004196458 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\" alt=\"Placentia Town Center\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004196458\" class=\"wp-caption-text\">Placentia Town Center<\/p><\/div>\n<p>NewMark Merill Cos. acquired Placentia Town Center, a 116,832-square-foot shopping center in Placentia, Calif. Newmark Merill was represented in-house and supported by CBRE. Newmark Knight Frank worked on behalf of the seller, Retail Properties of America Inc.<\/p>\n<p>Situated at 110-198 East Yorba Blvd., Placentia Town Center is part of an affluent area surrounded by many apartment communities. The property is within two miles of California State University, Fullerton and provides easy access to Orange Freeway as well.\u00a0<\/p>\n<p><em>\u201cPlacentia Town Center is within a very densely populated north Orange County area and has demonstrated strong historical tenancy and sales,\u201d<\/em> said Pete Bethea, executive managing director at Newmark Knight Frank, in prepared remarks. <em>\u201cThe buyer has not only secured a cash-flowing asset in an infill location, but the opportunity to embark on a variety of potential value enhancement plays in the future.\u201d<\/em><\/p>\n<p>Placentia Town Center, developed in 1973 and renovated in 2000, is anchored by Marshall\u2019s, Ross Dress for Less and CVS. It is 96 percent leased to several national and local retailers and restaurants including Bank of America, Massage Envy, Baskin Robbins, The Whole Enchilada, Avalon Bagels and Burgers, Philly\u2019s Best and Craftsman Pizza.<\/p>\n<h2>Strategic expansion of portfolio<\/h2>\n<p>Newmark Merill currently owns a portfolio that includes more than 78 shopping centers in California, Colorado and Illinois. The firm recently secured $62 million <a href=\"https:\/\/www.commercialsearch.com\/news\/newmark-merrill-secures-62m-refi-for-co-retail-asset\/\">refinancing of the Village at the Peaks,<\/a> a 442,000-square-foot shopping center in Boulder, Colo.\u00a0<\/p>\n<p><em>&#8220;NewMark Merrill is strategically looking to grow by adding centers, either through acquisitions or third-party management, that complement its existing portfolio and where there is an opportunity to use our expertise to add value,&#8221;<\/em> said Sandy Sigal, president &amp; chief executive officer of NewMark Merrill Cos., in prepared remarks.\u00a0<em>&#8220;Placentia Town Center provided us an opportunity to acquire a well-located center in a dense and affluent neighborhood, with excellent well performing tenants, at below market rents.&#8221;<\/em><\/p>\n<p><em>Image courtesy of NewMark Merill Cos.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE supported the buyer and Newmark Knight Frank represented the seller in the deal. NewMark Merill owns a portfolio of more than 78 shopping centers in Colorado, Illinois and California.<\/p>\n","protected":false},"author":871,"featured_media":1004196458,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21742,21749,15],"tags":[32789,36007,34942],"class_list":["post-1004196456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-cbre","tag-newmark-knight-frank","tag-newmark-merrill-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NewMark Merill Buys Placentia Town Center in CA - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NewMark Merill Buys Placentia Town Center in CA\" \/>\n<meta property=\"og:description\" content=\"CBRE supported the buyer and Newmark Knight Frank represented the seller in the deal. NewMark Merill owns a portfolio of more than 78 shopping centers in Colorado, Illinois and California.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-07T15:11:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:04:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/\",\"name\":\"NewMark Merill Buys Placentia Town Center in CA - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\",\"datePublished\":\"2017-11-07T15:11:23+00:00\",\"dateModified\":\"2022-12-09T05:04:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Placentia.jpg\",\"width\":800,\"height\":620,\"caption\":\"Placentia Town Center\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-merill-buys-placentia-town-center-in-ca\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NewMark Merill Buys Placentia Town Center in CA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\",\"name\":\"Evelyn Jozsa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"caption\":\"Evelyn Jozsa\"},\"description\":\"Evelyn is a creative writer covering commercial real estate trends and insights in the U.S. Evelyn was previously a senior associate editor at Multi-Housing News and Commercial Property Executive. 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