NewMark Merrill Sells Fully Leased Rialto Village Shopping Center to Langdon Street Capital

NewMark Merrill Companies, Inc. has completed the sale of Rialto Village, a 92,000-square-foot grocery-anchored shopping center in Rialto, California, to Langdon Street Capital. The transaction represents a significant real estate deal in the rapidly growing Inland Empire market, with NewMark Merrill retaining management responsibilities for the property despite the ownership transfer.

The shopping center, strategically located just north of the I-10 Freeway at the corner of Riverside Avenue and San Bernardino Boulevard, achieved full leasing during the COVID-19 pandemic, demonstrating remarkable resilience in challenging market conditions. Sprouts Farmers Market serves as the primary anchor tenant, supported by a diverse mix of national and regional retailers including Burlington, Ulta Beauty, Five Below, and In-N-Out Burger.

Adam Daneshgar, President of Langdon Street Capital, expressed strong confidence in the Rialto submarket, noting that Rialto Village embodies the type of community-driven retail destination that thrives in today's environment. The acquisition from NewMark Merrill Companies represents a continuation of the long-term relationship between the two firms, with Langdon Street Capital recognizing NewMark Merrill's proven record of creating vibrant neighborhood projects.

The transaction was facilitated by Reza Etedali, Ramez Barsoum, and Aaron Bettencourt of REZA Investment Group, with financing arranged by Chris Renard of Commercial Realty Consultants, Inc. The NewMark Merrill team, including Chairman and Chief Executive Officer Sandy Sigal, Senior Vice President of Leasing & Acquisitions James Patton, Executive Vice President Brad Pearl, and Chief Financial Officer Sandra Kist, played instrumental roles in completing the sale.

Sigal highlighted that Rialto Village marks the second successful shopping center development completed by NewMark Merrill in the City of Rialto. The project was delivered under budget and achieved full leasing during the height of the pandemic, reflecting the company's deep commitment to creating meaningful community retail destinations in partnership with local municipalities. The transaction further deepens NewMark Merrill's collaboration with Langdon Street Capital on enduring, high-performing retail properties.

Rialto Village benefits from exceptional visibility, direct freeway access, and serves a robust trade area of more than 220,000 residents supported by a strong daytime employment base. The property's strategic location and diverse tenant mix position it for continued success under new ownership while maintaining the management expertise that contributed to its initial success. For more information about NewMark Merrill Companies, visit https://www.NewMarkMerrill.com, and for details about Langdon Street Capital, visit https://www.LangdonStreetCap.com.

The sale demonstrates the ongoing strength of well-located, grocery-anchored retail centers in growing markets, particularly those that have proven their resilience during economic challenges. The transaction also highlights the importance of long-term partnerships in commercial real estate, with both companies building on their established relationship to ensure the property's continued success in serving the Rialto community.