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December 15, 2018
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NewMark Merrill Companies Picks Up 259k sf Retail Property in the Sacramento Area


NewMark Merrill Companies has acquired Madison Marketplace, a 259k sf shopping center located at the South-West Corner of Madison Ave and Hazel Ave in the CA city of Fair Oaks, about 15 miles northeast of Sacramento. The price was not disclosed.

Developed in 1995, Madison Marketplace is anchored by a Raley's Supermarket, TJ Maxx, Petco Pet Supplies, Dollar Tree and O’Reilly Auto Parts. It is 93% leased to several national and local retailers and restaurants including Chipotle, GameStop, Leslie Pool Supplies, McDonalds and Starbucks.

NewMark Merrill was represented in-house by Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison. Roman Benvenuti and Bill Palmer of Palmer Capital Inc represented the seller, TA Realty. Kostas Kavayiotidis of Pacific Southwest Realty Services arranged new 10-year fixed rate financing with John Hancock Insurance.

"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,” noted NewMark Merrill President and CEO Sandy Sigal. “Fair Oaks is rapidly growing, has a great employment base, and has great retail and housing options."

NewMark Merrill currently owns or manages a portfolio of over 78 shopping centers in California, Colorado and Illinois including four centers in the Sacramento area.

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