NewMark Merrill named to manage Carriage Square in Oxnard, Calif.
NewMark Merrill Companies has announced it will be taking over property management at Carriage Square, a 205,565-sq. ft. retail center in the Pacific Coast city of Oxnard, halfway between Los Angeles and Santa Barbara.
The Calabasas, Calif., retail real estate developer and operator will work with the landlord in providing an array of property management services including operations support, leasing, accounting, construction and development, and marketing.
Carriage Square was developed in the 1960s and underwent a full-scale redevelopment in 2011 that included razing most of the structures, repositioning in-line retail space, constructing new space, and creating a 171,069-sq.-ft. retail pad for Lowe’s.
Other tenants include KFC, IHOP, O’Reilly Auto Parts, 7 Eleven, Masters Donuts, and Pacific Oaks Credit Union. Carriage Square is currently 100% leased.
The center is centrally located minutes from the US 101 Freeway and offers exposure to thousands of cars per day in Ventura County and those traveling from Central and Southern California.
"NewMark Merrill believes Carriage Square is integral to the Oxnard and Ventura County area, with Lowe’s serving as a catalyst for growth with other tenants supporting the region’s daily needs,” said Sandy Sigal, the company’s president and CEO. "We believe in the history of this center and its role in the economy."
NewMark Merrill owns and/or manages 110 shopping centers across California, Colorado, and Illinois that total 13 million sq. ft. of gross leasable area.
