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**NewMark Merrill Sells Newly Developed Rialto Village Shopping Center to Langdon Street Capital**
Retail owner and developer NewMark Merrill Companies, Inc. has announced the sale of Rialto Village, a recently completed 92,000-square-foot grocery-anchored shopping center located in Rialto, California. The buyer, Los Angeles-based Langdon Street Capital, will take over ownership, while NewMark Merrill will continue to manage the property. Financial terms of the transaction were not disclosed.
“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.”
The transaction was facilitated by Reza Etedali, Ramez Barsoum, and Aaron Bettencourt of REZA Investment Group, who represented both NewMark Merrill and Langdon Street Capital. Key contributors from the NewMark Merrill team included Sigal, James Patton (SVP of Leasing & Acquisitions), Brad Pearl (EVP), and Sandra Kist (CFO). Chris Renard of Commercial Realty Consultants, Inc. arranged the financing.
Rialto Village represents a continued investment in retail development in the Inland Empire, underscoring the long-term growth strategy of both parties.
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