NewMark Merrill Sells Rialto Village Shopping Center to Langdon Street Capital

NewMark Merrill Companies, Inc. announced the sale of Rialto Village, a newly constructed, 92,000-square-foot grocery-anchored shopping center in the rapidly growing Inland Empire city of Rialto, California, to Langdon Street Capital. NewMark Merrill, which developed and constructed the center and executed the original business plan, will continue to manage the property on behalf of the buyer. Strategically located just north of the I-10 Freeway at the corner of Riverside Avenue and San Bernardino Boulevard, Rialto Village is anchored by Sprouts Farmers Market and is fully leased.

Additional tenants include Burlington, Ulta Beauty, Five Below, In-N-Out, Coffee Bean, Cold Stone Creamery, Nekter Juice Bar, Sharetea, The Joint Chiropractic, Ahipoki Bowl, Arrowhead Credit Union, Taquería 2 Potrillos, and Mattress Firm, among others. Adam Daneshgar, President of Langdon Street Capital, stated, "We have strong conviction in the Rialto submarket and believe Rialto Village embodies the kind of community-driven retail destination that thrives in today's environment." He added, "We're proud to acquire this exceptional property directly from NewMark Merrill Companies—a premier developer with a proven record of creating vibrant neighborhood projects—and look forward to continuing our long-term relationship with the Company as we build on the center's success."

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 Sandy Sigal, Chairman and Chief Executive Officer, James Patton, Senior Vice President of Leasing & Acquisitions, Brad Pearl, Executive Vice President, and Sandra Kist, Chief Financial Officer, were instrumental in completing the transaction. Chris Renard of Commercial Realty Consultants, Inc. arranged the financing.

Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies, noted, "Rialto Village marks the second successful shopping center we've developed in the City of Rialto. 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." Sigal added, "We're equally pleased to have completed this transaction with Langdon Street Capital, further deepening our collaboration on enduring, high-performing retail properties with our long-time partner. This deal also underscores our decades-long partnership with REZA Investment Group, trusted advisors who've helped us execute transformative projects for more than 35 years."

Rialto Village benefits from exceptional visibility, direct freeway access, and a robust trade area of more than 220,000 residents, supported by a strong daytime employment base. The successful sale and continued management arrangement demonstrate the resilience of well-located retail properties in growing markets, even during challenging economic periods, while reinforcing the value of long-term strategic partnerships in commercial real estate transactions.