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SOUTHERN CALIFORNIA NEWS
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NewMark Merrill Companies Picks Up CVS Pharmacy Property in Orange County

4/01/24

NewMark Merrill Companies Inc has acquired the CVS Pharmacy building within Placentia Town Center, a 142.7k sf retail center in Placentia. The property is located on the southwest corner of Yorba Linda Blvd and Kraemer Blvd.

NewMark Merrill now owns the entire center including the CVS Pharmacy building. Overall, the company currently owns and/or manages over 100 shopping centers across the country.

Placentia Town Center is ideally located in the heart of North Orange County, just northeast of the 91 and 57 freeway interchange. The center is anchored by Marshalls and Ross Dress for Less and features several local and national brands including Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue. With the addition of the 28.8k sf CVS Pharmacy, the entire center is now under one ownership.

"NewMark Merrill believes that Placentia Town Center is integral to the City of Placentia’s community, which the company has served for many years," said Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. "The acquisition of the CVS Pharmacy building allows us to carry out our vision by integrating CVS, having additional development flexibility, and providing a more consistent customer experience."

NewMark Merrill was represented in-house by Greg Giacopuzzi as well as Tony Veiller of Pegasus Investments. The price was not disclosed.





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