NEWMARK MERRILL COS. ACQUIRES 52,990-SQUARE-FOOT RETAIL CENTER

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EL CAJON, CALIF. — NewMark Merrill Cos. has acquired Town & Country Center, a 52,990-square-foot shopping center located at the corner of N. Second St. and Madison Ave. in El Cajon. The company purchased the property for just under $11 million. At the time of acquisition, the center was 90 percent occupied by a variety of tenants, including Rite Aid, Baskin Robbins and Everything $5.99. NewMark has an extensive renovation planned for the development. Peter Bethea of Cushman & Wakefield represented the seller in the transaction. Financing was provided by Wells Fargo Merchant Bank.

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