Chicago —NewMark Merrill Cos. has acquired Lake Meadows Shopping Center, a 179,106-square-foot retail center in Chicago. Jewel-Osco anchors the center, which was 85 percent leased at the time of sale. Additional tenants include LA Fitness, Foot Locker, CVS Pharmacy and Citi Trends. NewMark Merrill will upgrade the property with new signage, lighting and gathering spaces. The firm also has plans to promote the center’s businesses and operators by hosting events for the neighborhood.
Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist, Susan Rorison and Matt Gugliciello internally represented NewMark Merrill in the transaction. Michael Nieder, Brian Page and John Dettlaff of JLL Capital Markets represented the seller.
NewMark Merrill now owns and/or operates eight properties in the Chicago area including Stratford Crossing, Winston Plaza, Stony Island Plaza, Bricktown Square, Marketplace at Six Corners, Midway Square and Pulaski Promenade.