NewMark Merrill’s Sandy Sigal: “Our Job is to Understand What Signals We are Seeing”

Why this matters

Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. Los Angeles is working asset-by-asset through an extended office reset. Hospitality on the West Side and selective industrial in the South Bay are where capital is currently moving; downtown Class B remains in price discovery. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.

Editorial analysis · Real Estate Trail Editorial

On the RET wire

• The ninth Los Angeles story tracked on the wire in November 2026. All Los Angeles coverage →
• Disclosed retail deal value tracked in November 2026: $2.1B across 37 reported transactions. All Retail coverage →
• 83 stories mentioning NewMark on the wire in the past 90 days. NewMark coverage →

Computed from Real Estate Trail’s own tracked coverage

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