 |
Sandra Kist
|
San Diego. CA – NewMark Merrill
South, LLC, the San Diego based retail shopping center owner and development
company and subsidiary of NewMark Merrill Companies, Inc., has acquired a 1.4-acre site located at the corner of South Melrose Drive and
Faraday Avenue in Vista, California.
NewMark Merrill South currently owns
and/or manages a portfolio of more than 30 retail centers in San Diego County.
 |
Barret Bradley
|
NewMark Merrill will begin construction on
Melrose Landing in the third quarter 2022 for the two-restaurant site
development
The company
has already secured leases with Dutch Bros. Coffee and Wendy’s to occupy the
entire site. Completion of the buildings is scheduled for Summer 2023.
“Melrose Landing is a new ground-up development
by NewMark Merrill South,” commented Bradley, Vice President of
Acquisitions and Development in San Diego.
“We are excited at the opportunity
to bring these two great operators to the Vista community and look forward to
pursuing additional opportunities like this in and around the San Diego area.”
 |
John Hickman
|
On the land
acquisition, financing, and leasing transaction, NewMark Merrill’s team was
represented by John Hickman, Managing Director, San Diego; Barret
Bradley, Vice President of
Acquisitions and Development and Sandra
Kist, Chief Financial
Officer.
 |
| Travis Fidel |
Additionally, Travis Fidel and Kevin Marusiak of Radar
Capital arranged the
financing. Jon Walters of Kidder Matthews represented the
seller. Kevin Barry of Irish Commercial represented Wendy’s with Andrew
Peterson of SRS representing Dutch Bros Coffee.
“NewMark Merrill was able to source
the land, gain full city entitlements for two new-construction drive-thru
buildings, lease the property and arrange for attractive project financing, all
prior to close of escrow,” stated Hickman.
“The project will bring one of the first Dutch Bros. Coffee
locations to open in San Diego County, and with Wendy’s will provide
much-needed food and beverage options to the Vista/Carlsbad business park, a
bustling and rapidly expanding center of commerce and employment in North
County San Diego.”
 |
| Jon Walters |
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns and/or
manages a portfolio of over 95 shopping centers valued at more than $2.5
billion.
Since 1987, President and Chief Executive
Officer Sandy Sigal has led the company of shopping centers representing
over 2,000 tenants and 11 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.
 |
| Andrew Peterson |
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
JLL shapes the future of real estate for a
better world by using the most advanced technology to create rewarding
opportunities, amazing spaces and sustainable real estate solutions for our
clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue
of $19.4 billion, operations in over 80 countries and a global workforce of
more than 100,000 as of March 31, 2022.
JLL is the brand name, and a registered
trademark, of Jones Lang LaSalle Incorporated. For further information,
visit .
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
david@ebelingcomm.com
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real
Estate Industry: I do what I love and love what I do.”
NewMarkMerrill.com
