Walmart Anchors Largest Shopping Center in Rialto
The 239,552-square-foot property developed by NewMark Merrill Cos. and Pacific Retail Partners is nearing completion 13 years in. Rialto Marketplace will bring NewMark's portfolio to more than 86 shopping centers.
By Ariela Moraru
Rialto Marketplace, Rialto, Calif.
NewMark Merrill Cos. is nearing completion of Rialto Marketplace, the soon-to-be largest shopping center in the city of Rialto, Calif. Walmart, the anchor tenant of the 239,552-square-foot shopping center development, opened earlier this month.
The property is located on the Southwest corner of San Bernardino Avenue and Riverside Avenue, just off I-10 and I-250. Tenants include Starbucks, Juice it Up, Jersey Mike’s Subs, Chipotle, Carl’s Jr., Pieology, Les Schwab Tires, GNC, T-Mobile, Menchie’s Frozen Yogurt, Sprint and Ono Hawaiian BBQ.
Bryan Gortikov, Gary Baker and Joe Cecala of Pacific Western Bank arranged the project financing. NewMark Merrill’s development team included Brad Pearl, Luca Giovanardi, Darren Bovard and Greg Giacopuzzi, joined by Joe Meyer and Jay Marconi of Pacific Retail Partners. Tim Mayeda with Lyle Parks Jr. Construction is the general contractor.
The retail shopping center development company has a portfolio of more than 86 shopping centers.
“It took us over 13 years to secure the site, entitlements and development plan for the new Walmart Supercenter and our other stores,” said Sandy Sigal, CEO of NewMark Merrill Cos., in prepared remarks. “But the hard work of our entire development team, our partnership with Pacific Retail Partners and the City of Rialto, along with Walmart’s commitment to the City, has paid off with a project which will employ over 200 full-time employees, revitalize the south portion of Rialto and bring significant tax income to the community.”
Image courtesy of NewMark Merrill Cos.
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