Ontario –– CBRE announced Everytable, a healthy grab-and-go food service, will occupy the final 1,400 sq. ft. space at Rialto Village. NewMark Merrill Companies, Inc. broke ground on the 96,000 sq. ft. retail center in August 2022; the project is 100% leased ahead of its opening later this year.
CBRE’s Brian McDonald, Walter Pagel and Hannah Curran worked with NewMark Merrill’s Greg Giacopuzzi on leasing of the center.
“Rialto Village’s strong fundamentals have attracted high-quality tenants that will expand the retail options to an underserved community, signaling the project’s long-term growth amid a challenging macroeconomic environment,” said Walter Pagel, Senior Vice President at CBRE.
Rialto Village is located at the southwest corner of San Bernardino Avenue and Riverside Avenue in Rialto, Calif. The retail center is anchored by Sprouts, Burlington, Ulta and Five Below. Additional tenants include Mattress Firm, Arrowhead Credit Union, Quick Quack Car Wash, and In-N-Out Burger, as well as shop leases with Cold Stone Creamery, The Joint, Nekter Juice Bar, Coffee Bean & Tea Leaf, and West Coast Dental.
The retail market in the Inland Empire remains resilient despite inflation and macroeconomic headwinds, according to CBRE. There is over 1.2 million sq. ft. under construction in the Inland Empire, across eight projects in the first quarter of 2023. Vacancy was 6.39% in Q1 2023, down from 6.5% in Q4 2022.
NewMark Merrill Companies, Inc. owns and/or manages a portfolio of over 95 shopping centers valued at more than $2.5 billion. Since 1987, President and Chief Executive Officer Sandy Sigal has led the company of shopping centers representing over 2,000 tenants and 12 million square feet in California, Colorado, and Illinois. For more information, please visit NewMarkMerrill.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.