NewMark Merrill Companies Enters Sacramento Market with Property Management and Redevelopment Advisory Services for 365,000 Square Foot Southgate Plaza

SACRAMENTO, CA– NewMark Merrill Companies, a retail development and full-service property management firm, is proud to announce that it has been named to lead the management and redevelopment of Southgate Plaza, a 365,000-square-foot retail center in Sacramento, Calif.

“Southgate Plaza is the type of retail asset which should stand the test of time," said Sandy Sigal (top right photo), Chief Executive Officer and Founder of NewMark Merrill Companies.

"It has excellent demographics, on one of the major intersections in Sacramento, and a long track record of being the center of the community.

"NewMark Merrill Companies also has a long track record of taking assets like Southgate and helping them surpass their prior successes. We look forward to working with the existing tenants, the surrounding community, and new tenants who we feel can add to the tenant line-up, and helping this center thrive again.”

NewMark Merrill will immediately begin a comprehensive repositioning effort for the center. The management assignment is the first for NewMark Merrill in the Sacramento region.

Southgate Plaza was once the dominant center located at the intersection of Florin Road and Franklin Avenue, housing such retailers as Wal Mart, Ross, Albertsons and Office Max.

Currently, the center is 20 percent leased, following the departure of several tenants during this challenging economy.

 Wal-Mart has relocated and opened a new Supercenter just over 1 mile away, and Albertsons, Office Max and Ross have all closed.

Contact: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com