Fort Collins, CO (August 19, 2024) – NewMark Merrill Companies, Inc., a Calabasas, California based retail shopping center owner and development company, is pleased to announce it acquired the 26,602-square-foot retail building located on 1.83 acres at 425 S. College Avenue in Fort Collins, Colorado that is leased to natural and organic grocer Lucky’s Market | Colorado’s Independent Grocery Store (luckysmarket.com). NewMark Merrill now owns and/or manages 13 centers, totaling in excess of 1 million square feet in Colorado through its NewMark Merrill Mountain States division.
“NewMark Merrill believes this asset represents an outstanding investment with irreplaceable real estate located within the downtown Fort Collins submarket,” said Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. “As the only full-service grocery store serving the Colorado State campus student, downtown Fort Collins and the Old Town Fort Collins consumer, this is a long-term critical neighborhood service investment.”
Lance W. Taylor worked on behalf of NewMark Merrill and Jon Hendrickson and Mitch Veremeychik at Cushman & Wakefield represented the seller.
NewMark Merrill is working to invest approximately $25 million in 1031 exchange equity within the coming months and is actively seeking immediate investment opportunities up to $75 million in California, Illinois, Colorado and Utah.
About NewMark Merrill Companies
NewMark Merrill Companies, Inc. owns or manages a portfolio of over 100 shopping centers valued at more than $3 billion. Since 1987 President and Chief Executive Officer Sandy Sigal has led the company of shopping centers representing over 2,000 tenants and 12 million square feet in California, Colorado, and Illinois. The Company has founded and invested heavily in BrightStreet Ventures, its technology company, which is working on leading edge solutions for landlords and tenants to succeed in today’s retail environment. For more information, please visit NewMarkMerrill.com.