News

LandMark Retail Group Paves the road to success for 2010!

January 19, 2010

Woodland Hills, CA – LandMark Retail Group (LRG), a subsidiary of NewMark Merrill Companies, beats the national recessionary trend with the development of additional stores for CVS CareMark Corporation (CVS) in California. LRG enjoyed tremendous success in an otherwise down market for commercial real estate in 2009 with seven new CVS/pharmacy store openings plus an additional 20 sites approved in Southern and Central California. LRG has been the CVS preferred developer since 2005 and in 2008 expanded their territory into the Greater Bay Area of Northern California with new stores slated to open throughout the State in 2010.

"After partnering with LandMark Retail Group, CVS gained significant traction with our new store growth strategy in California. As a result we are opening a number of stores in difficult markets throughout the state and have expanded LandMark's territory into the Greater Bay Area of Northern California anticipating similar success. LandMark Retail Group was the right choice for CVS." Mark Miller, Regional Vice President of Real Estate, CVS Realty Co.

Kicking off last year was the opening of the Huntington Beach location in March, 2009 across from the world famous Huntington Beach Pier. In May 2009, LRG opened a CVS in Whittier. The first of three Bakersfield openings was in July, 2009 at the high traffic intersection of Stockdale and California. This marked the chain's first new store development in the Bakersfield market and is the first freestanding prototype store with a drive thru for CVS in Bakersfield. Completing the summer expansion, LRG opened the CVS in La Quinta in August, 2009. The corner of Panama and Union was the site for another Bakersfield location which opened in October, 2009. LRG unseated a formidable national competitor to gain control of this site. The final third quarter opening was Niles and Fairfax in Bakersfield which opened in September, 2009. This project involved significant topography challenges which LRG navigated to complete. A fourth LRG store to be opened in 2010 by CVS in Bakersfield is currently under construction at Rosedale and Calloway, another highly visible and well trafficked intersection in the Bakersfield market.

"We are aggressively looking to locate new development sites in strategic locations on behalf of CVS CareMark Corporation," said Jeremy Just, Principal, Chief Executive Officer, LandMark Retail Group, LLC. "We look forward to our continued partnership with CVS throughout California for years to come."