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NewMark Merrill Closes on Grocery-Anchored Madison Marketplace in Fair Oaks

Woodland Hills Outfit Expands Sacramento Holdings with Purchase of 259,000-SF Shopping Center
November 22, 2017
NewMark Merrill Cos., a retail shopping center owner and manager out of Woodland Hills, CA, has purchased the Madison Marketplace in Fair Oaks, CA from Boston-based private real estate investment company, TA Realty. Terms of the deal were not disclosed.

Madison Marketplace is a 258,981-square-foot shopping center located at the southwest corner of Madison and Hazel Avenues in northeast Sacramento's Carmichael Retail submarket.

Completed in 1995, the suburban shopping center is 93% leased to a tenant roster that includes anchors Raley's Supermarket, TJ Maxx, Petco Pet Supplies, Dollar Tree and O’Reilly Auto Parts, as well as a number of national and local retailers and restaurants including Chipotle, GameStop, Leslie Pool Supplies, McDonalds and Starbucks.

Sandy Sigal, president and CEO of NewMark Merrill, noted the firm is targeting value-add investment, development or third-party management opportunities in the Sacramento region to complement its existing portfolio.

"Madison Marketplace provided us an opportunity to acquire the dominant grocery anchored center in the area with strong demographics, great co-tenants and an amazing location," added Sigal. "Fair Oaks is rapidly growing, has a great employment base, and has great retail and housing options."

NewMark Merrill currently owns or manages 78 shopping centers throughout California, Colorado and Illinois.

Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison negotiated the acquisition in-house on behalf of NewMark Merrill. Roman Benvenuti and Bill Palmer of Palmer Capital brokered the deal for TA Realty.

Kostas Kavayiotidis of Pacific Southwest Realty Services placed a new 10-year fixed rate loan with John Hancock Insurance on behalf of the buyer.

Please see CoStar COMP #4047086 for more information on this transaction.
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