• 92,000 Sprouts-anchored shopping center, 100% leased during COVID-19 pandemic, recently sold to long-time partner Langdon Street Capital
• NewMark Merrill Companies retains management, building on long-standing ownership and management presence in City of Rialto

Calabasas-based retail owner and developer 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.

“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,” said Adam Daneshgar, President of Langdon Street Capital. “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.

“Rialto Village marks the second successful shopping center we’ve developed in the City of Rialto,” said Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies. “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.”

“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,” added Sigal. “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.

About NewMark Merrill Companies

NewMark Merrill Companies, Inc. owns or manages a portfolio of more than 110 shopping centers valued at over $3 billion. Since 1987, President and Chief Executive Officer Sandy Sigal has led the company’s operations spanning California, Colorado, and Illinois, representing over 2,000 tenants and 13 million square feet of retail space. The company has also founded BrightStreet Ventures, a technology subsidiary focused on innovative digital tools for landlords and tenants. For more information, visit www.NewMarkMerrill.com.

About Langdon Street Capital

Langdon Street Capital is a Los Angeles–based real estate investment firm that owns and operates a diverse portfolio of multifamily, retail, and mixed-use properties valued at more than $600 million. Since 2011, President and Founder Adam Daneshgar has led the company in acquiring over 2,000 multifamily units and landmark commercial assets across California, Nevada, Texas, and other high-growth markets. The firm is recognized for its value-add strategy, long-term investor relationships, and ability to deliver superior returns. For more information, visit www.LangdonStreetCap.com.

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