NewMark Merrill Companies, Inc., a Calabasas, California-based retail shopping center owner and development company, has facilitated the acquisition of Pulaski Promenade, a 122,710-square-foot retail center located on 10.5 acres in Chicago, Illinois, on Pulaski Road just south of I-55 from DRA/Pine Tree. Additionally, the firm acquired Midway Square, a 55,332-square-foot retail center located at the corner of Pulaski Road and South Archer Avenue in Chicago from TRC Retail. With these two acquisitions, the company owns and/or operates six properties in the Chicago area including Stratford Crossing (Bloomingdale), Winston Plaza (Melrose Park), Stony Island Plaza (Chicago), and Bricktown Square (Chicago) representing over 1.5 million square feet and over $220,000,000.
NewMark Merrill will work to enhance the assets with investments to create and maintain a first-class shopping center, upgrading various areas of the property including improvements to signage, as well as improving the customer experience. In addition, the company will continue its commitment to the local community through direct outreach, promoting the center’s businesses and operators, and putting together events that cater to the neighborhood.
NewMark Merrill was represented in-house by Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison, and the sellers were represented by Rick Drogosz from Mid-America and Danny Spitz and Jason St. John from Greenstone Partners.
Pulaski Promenade is located prominently at the beginning of the Pulaski Road retail corridor. It is 100% leased to several prominent tenants including Marshalls, Shoe Carnival, Michaels, Ross, PetSmart, Ulta and Carter’s. Midway Square is located just minutes from Pulaski Promenade on the same retail corridor. It is 92% leased to Dollar Tree, Chase Bank, T-Mobile and Sally’s Beauty, among others.
