LandMark Retail Group Opens Three CVS/Pharmacy Stores in San Francisco

Firm plans to open four more stores in California this year

San Francisco, Calif. (February 26, 2013)—LandMark Retail Group, a full service retail development firm, recently opened three CVS/pharmacy stores in San Francisco. In the past 12 months, the firm has completed 13 stores throughout California with plans to open four more this year. .

The first CVS/pharmacy store is located at 351 California St. at the southeast corner of California and Sansome streets. . The lot totals 11,553 square feet and the building totals 9,009 square feet. The total project cost nearly $2.1 million. The store opened after just five months of construction.

“This CVS store occupies a ground-level retail space in a mid-rise office building within San Francisco’s financial district making it the perfect location to serve the needs of the workforce in the 28.8 million square feet of office, including the Embarcadero located conveniently near the store,” said Holly Grzywacz, Chief Operating Officer and Director of Development, Landmark Retail Group. “The store also serves hotel patrons and is easily accessible from the Embarcadero Bart store and California-Van Ness cable car line.”

The second CVS/pharmacy property is located in the Twin Peaks neighborhood at 701 Portola Dr. The store totals 9,713 square feet including 7,028 square feet of first floor retail space and 2,685 square feet of mezzanine space and sits on a 7,867-square-foot lot. This is the first ground-up development completed for CVS in San Francisco and the total project cost about $4.5 million. LandMark completed construction in under 10 months.. The store’s location previously housed a service station and offers excellent visibility and access from all directions. LandMark worked hand in hand with the community, city staff, and planning commission to transform a blighted corner into a successful new CVS/pharmacy that will benefit the surrounding residential community.

The third property is located downtown at 581 Market Street between Second Street and Ecker Place. The store totals 8,010 square feet including 6,343 square feet of first floor retail space and 1,667 square feet of mezzanine space and is situated on a 7,750-square-foot lot. LandMark completed construction in four months with total project costs totaling about $1.61 million. The new store occupies a long-vacant space on the ground floor of a three-story building originally constructed around the turn of the century and updated in the 1990s.

“LandMark is pleased to have delivered these three new CVS/pharmacy stores on time and within budget to the busy City of San Francisco,” said Grzywacz.

LandMark Retail Group
LandMark Retail Group, a subsidiary of NewMark Merrill Companies, is a full-service developer providing strategic vision, site selection, due diligence, entitlements, project management 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. LandMark Retail Group delivers comprehensive real estate development strategies to retailers, restaurants and financial institutions seeking strategic, quality growth in their target markets. For more information on Landmark Retail group, please visit www.landmarkretailgroup.com.

NewMark Merrill Companies
With a portfolio of more than 75 shopping centers that the company owns or manages, NewMark Merrill Companies has the unique ability to draw from its over 25 years of experience to provide a higher level of property management, development and asset management services for its clients. NewMark Merrill Companies has ranked among the Top 10 Largest Property Management Firms and Top 10 Largest Commercial Real Estate Developers from 2007-2012 by the LA Business Journal. The Company was recently named the #1 Fastest Growing Private Company in the San Fernando Valley by the Los Angeles Business Journal. In addition to Woodland Hills, regional offices are located in Orange County, Ventura County, San Francisco, San Diego County, Colorado and Illinois. The company currently owns and/or operates over 75 shopping centers in three different states representing over ten million square feet and over one billion in value. For more information on NewMark Merrill Companies, visit www.newmarkmerrill.com.

West Coast Commercial Real Estate News