Vista Land Parcel Sells, Will Become Restaurant Site
Shopping center owner and developer, NewMark Merrill South, LLC, has acquired a 1.4 acre site at the corner of South Melrose Drive and Faraday Avenue in Vista, CA. The company plans on developing a two-restaurant site, already leased to Dutch Bros. Coffee and Wendy’s. Completion of the property is scheduled for next summer.
On the land acquisition, financing, and leasing transaction, NewMark Merrill’s team was represented by John Hickman, Managing Director, San Diego; Barret Bradley, Vice President of Acquisitions and Development and Sandra Kist, Chief Financial Officer. Additionally, Travis Fidel and Kevin Marusiak of Radar Capital arranged the financing.
“NewMark Merrill was able to source the land, gain full city entitlements, lease the property and arrange financing, all prior to close of escrow,” said Hickman. “The Melrose Landing project will provide much needed food and beverage options to a rapidly expanding center of commerce in North San Diego County.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.