Retail owner and developer NewMark Merrill Companies, Inc. has sold Rialto Village, a newly constructed, 92,000-square-foot grocery-anchored shopping center in Rialto, to Langdon Street Capital. Terms of the sale were not disclosed. NewMark Merrill, which developed the center, will continue to manage the property on behalf of the buyer.
“Rialto Village marks the second successful shopping center we’ve developed in the City of Rialto,” said Sandy Sigal, president and CEO of NewMark Merrill. “Delivered under budget and fully leased during the height of COVID, it reflects our deep commitment to creating meaningful community retail destinations in partnership with the City of Rialto.”
NewMark Merrill and Langdon Street Capital were represented by Reza Etedali, Ramez Barsoum, and Aaron Bettencourt of REZA Investment Group. The NewMark Merrill team, including Sigal, SVP of leasing & acquisitions James Patton, EVP Brad Pearl and CFO Sandra Kist, were instrumental in completing the transaction. Chris Renard of Commercial Realty Consultants, Inc. arranged the financing.
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