NewMark Merrill Expands Portfolio with Management of Fully Leased Oxnard Retail Center

NewMark Merrill Companies, Inc. has been appointed to oversee property management of Carriage Square, a 205,565-square-foot retail center located at 301 W. Gonzales Road in Oxnard, California. This appointment expands the Calabasas-based company's portfolio to 110 shopping centers across California, Colorado, and Illinois, reinforcing its position as a significant player in retail property management.

The fully leased Carriage Square represents a strategically important property in the Ventura County market. Originally developed in the 1960s, the center underwent substantial redevelopment in 2011 that included razing most structures, repositioning retail space, and constructing a 171,069-square-foot retail pad for anchor tenant Lowe's. Other tenants include KFC, IHOP, O'Reilly Auto Parts, 7 Eleven Convenience Market, Masters Donuts, and Pacific Oaks Credit Union.

NewMark Merrill will provide comprehensive property management services including operations support, leasing, accounting, construction and development, and marketing. The company's management approach emphasizes the center's historical significance and economic role in the region. Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies, stated that Carriage Square is integral to the Oxnard and Ventura County area, with Lowe's serving as a catalyst for growth while other tenants support daily regional needs.

The property's strategic location minutes from the US 101 Freeway provides exposure to thousands of cars daily, serving both Ventura County residents and travelers from Central and Southern California. This management assignment demonstrates continued confidence in established retail properties despite evolving market conditions and highlights the importance of experienced management for maintaining fully leased centers in competitive markets.