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California  + Inland Empire  + Retail  | 

NewMark Merrill Divests Newly Developed Shopping Center

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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