NewMark Merrill, a Calabasas, CA-based retail center owner and developer, recently purchased Corbin & Parthenia shopping center – an 84,000-square-foot retail center in Northridge. This acquisition marks the eighth NewMark Merrill owns and/or manages in the San Fernando and Conejo Valleys. Terms of the transaction were not disclosed.
The firm plans to invest in deferred maintenance as well as property upgrades at Corbin & Parthenia with an aim to improve customer experience. Additionally, NewMark Merrill will promote businesses operating within the shopping center while organizing events that cater to local residents.
Sandy Sigal – CEO of Newmark Merril – commented on this purchase: “Despite the evolving economy we believe that Corbin & Parthenia is integral to its community – a community our company has resided in for almost 40 years” Located just two miles from Cal State Northridge; tenants include Office Depot Brent’s Deli Finmark Floor Coverings Northridge Beauty Bar Yaheli Skin Care Products among others .
Greenberg Glusker Partner Kenneth Fields provides essential insights into CRE markets like retail through Connect LA on May 3 at Hotel Indigo .
