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3/31/25
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Melrose Landing, a newly developed, two-building, 3.6k sf retail property in Vista, sold in deals totaling $5.3 mil. The two single-tenant buildings, located on 1.4 acres at the corner of South Melrose Dr and Faraday Ave, were pre-leased to Dutch Bros Coffee and Wendy’s prior to construction. They were developed and sold by NewMark Merrill South.
The 1k sf Dutch Bros Coffee building, located at 2665 Melrose Ave, was sold to Nouretsu Investments LLC for $2.7 mil ($2,700/sf). NewMark Merrill South was represented by Pat Luther of SRS Real Estate Partners. Dutch Bros Coffee was represented by Jason Ehrenpreis with CBM1.
The 2.6k sf Wendy’s property at 2655 Melrose Ave was sold to Tetrad Investments LLC for $2.6 mil, or $1,000/sf. NewMark Merrill South represented itself in the sale of this building. Wendy’s was repped by Kevin Barry, Irish Commercial.
NewMark Merrill South LLC is a San Diego-based retail shopping center owner and development company and subsidiary of NewMark Merrill Companies. NewMark Merrill South currently owns and/or manages of portfolio of more than 30 retail centers in San Diego County.
NewMark Merrill’s acquisition, development, financing, and leasing team for the project included John Hickman, Managing Director, San Diego; Barret Bradley, Vice President of Acquisitions and Development; Robert Mendoza, Director of Development & Construction; and Sandra Kist, Chief Financial Officer.
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