News

LandMark Retail Group Continues Aggressive Expansion Throughout California; Three More CVS/pharmacy Stores Completed

January 28, 2011

Woodland Hills, CA – LandMark Retail Group (LRG), a subsidiary of NewMark Merrill Companies, has kicked off 2011 in strong fashion with the completion and opening of three new CVS/pharmacy stores in California. This continues its success with CVS/pharmacy after opening five stores in 2010 and seven in 2009. LRG, the CVS preferred developer since 2005, continues its development from Greater Los Angeles County and the Inland Empire through Central California, the Central Coast and into San Francisco and the Greater Bay Area of Northern California with new stores slated to open throughout the State in 2011 and beyond.

On Sunday, January 23, 2011, LandMark Retail Group opened two new stores in Los Angeles and one new store in San Francisco. The first store is located in downtown Los Angeles at the corner of Figueroa Street and 32nd Street just one block north of the University of Southern California campus and across the street from the Galen Center. As an integral part of the newly constructed University Gateway mixed-use project, CVS will provide customers with a convenient alternative for their daily needs items to the students, faculty, and staff of the University of Southern California as well as the many residents living in the surrounding community. Next, LRG opened a store at the corner of Roscoe Blvd. and DeSoto Avenue in the Winnetka submarket of the San Fernando Valley in Los Angeles. This store fills a strategic location in the San Fernando Valley to service customers in the family oriented communities of Winnetka, Canoga Park, and Northridge. Finally, with its first opening in San Francisco, LRG opened a store proximate to the corner of Market Street and Grant Avenue in San Francisco one block from Union Square and across the street from the Apple flagship retail store. In addition to these three stores, LRG is currently developing six new CVS/pharmacy stores with openings scheduled throughout the year.

"CVS CareMark Corporation continues to be great partner for LRG and we look forward to expanding with CVS for years to come," said Jeremy Just, Principal, Chief Executive Officer, LandMark Retail Group, LLC. "Our significant experience acquiring and developing in high density markets with difficult barriers to entry has positioned LandMark Retail Group to assist retailers in executing their growth objectives in these sought after markets."

"We are excited to open these stores in areas that can greatly benefit from the services we provide," said Mark Miller, Regional Vice President of Real Estate, CVS CareMark Corporation. "We are committed to identifying areas that are underserved with health and pharmacy services."

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CVS/Pharmacy, the retail division of CVS Caremark Corporation (NYSE: CVS), is America's largest retail pharmacy with more than 7,000 stores throughout the United States and Puerto Rico. CVS/pharmacy is committed to improving the lives of those they serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at www.cvscaremark.com.

LandMark Retail Groupa subsidiary of NewMark Merrill Companies, is a full-service developer providing strategic vision, site selection, due diligence, entitlements, project management, capital solutions, and complete development services. It consists of a team of high-caliber, seasoned industry professionals with an extensive background in site selection, acquisition, development, architecture, construction, entitlements, and leasing of retail real estate properties. Our mission is to create partnerships with national and regional retail tenants interested in growth in California, focusing on high quality freestanding single tenant retail developments, typically located at or near the corner of high traffic intersections.