ONTARIO, Calif. – August 23, 2022 – CBRE announced that 18 businesses are slated to join Rialto Village, a shopping center breaking ground this month in the city of Rialto in San Bernardino County. NewMark Merrill Companies, Inc. is developing the project, with CBRE’s Brian McDonald and Walter Pagel working hand-in-hand with NewMark Merrill’s Greg Giacopuzzi on marketing the center for lease.
The 96,000-sq.-ft. project will be anchored by Sprouts, Burlington, Ulta and Five Below. CBRE has also signed pad deals with 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, along with multiple local tenants. NewMark Merrill Companies closed escrow on the site in early August with lease commitments representing 97% of the total shopping center square footage. Only one shop suite, a 2,700 sq. ft. end cap, remains available for lease.
According to Mr. McDonald, “Early commitments from high-quality anchor tenants sent a strong message to retailers interested in the pad sites and shop space that this is a dynamic location in an underserved area that will benefit from expanded retail options.”
Rialto Village is located at the southwest corner of San Bernardino Avenue and Riverside Avenue in Rialto, Calif.
Rialto Village represents NewMark Merrill Companies’ second development in the city, having finalized development on the neighboring Walmart anchored shopping center in 2017.
Sandy Sigal, NewMark Merrill Chairman and Chief Executive Officer, stated, “Rialto Village is a new ground-up development in an area that is positioned for continued success. This new center will be the perfect complement to our Rialto Marketplace center as well as our other centers in the Inland Empire.”
About NewMark Merrill Companies, Inc.
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 11 million square feet in California, Colorado, and Illinois. The Company has founded and invested heavily in BrightStreet Ventures, its technology company, which is working on leading edge solutions for landlords and tenants to succeed in today’s retail environment. 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 2021 revenue). The company has more than 105,000 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.
