NewMark Merrill Companies, Inc., a retail shopping center owner and development company based in Calabasas, California, has successfully acquired two new properties in the Chicago area. The first is Pulaski Promenade, a 122,710-square-foot retail center situated on 10.5 acres of land. The second property is Midway Square, a 55,332-square-foot retail center previously owned by TRC Retail.
The acquisition was facilitated by NewMark Merrill’s team including Sandy Sigal (President and CEO), Jim Patton (Executive Vice President), Brad Pearl (Senior Vice President of Acquisitions), Sandra Kist (Vice President of Asset Management) and Susan Rorison (Director of Leasing). Representing the sellers were Rick Drogosz from Mid-America and Danny Spitz with Jason St. John from Greenstone Partners.
These latest additions bring NewMark Merrill’s total number of properties in the Chicago area to six including Stratford Crossing,
Winston Plaza,
Stony Island Plaza,
and Bricktown Square.
In total,the company now owns over
1.5 million square feet worth over $220 million.
Despite challenging economic conditions,Sandy Sigal expressed confidence stating,”We were able to secure financing for these dominant retail centers despite current market conditions.”
