NewMark Merrill, a retail center owner and developer based in Calabasas, CA, has purchased the Corbin & Parthenia shopping center in Northridge, CA. The shopping center is the eighth that NewMark Merrill owns or administers in the San Fernando and Conejo Valleys. The transaction’s terms were not disclosed.

The company intends to improve the facility through investments in deferred maintenance, property upgrades, and customer experience enhancements. NewMark Merrill will also promote the center’s companies and operators, as well as organize neighborhood events.

Despite the changing economy, we believe Corbin & Parthenia is an important part of the community, which our company has lived in and served for nearly 40 years, said NewMark Merrill CEO Sandy Sigal.

Corbin & Parthenia, located just two miles from Cal State Northridge, is home to various community-minded tenants such as Office Depot, Brent’s Deli, Finmark Floor Coverings, Northridge Beauty Bar, and Yaheli Skin Care Products.