FOR IMMEDIATE RELEASE
NewMark Merrill Companies Announces NEW WalMart Supercenter Opening at Rialto Marketplace in Rialto, California
Rialto, Calif. (April 7, 2017) – NewMark Merrill Companies, a Woodland Hills, CA based retail shopping center development company, announces the new Walmart Supercenter opened on Wednesday, April 5, 2017. The firm will soon complete development of Rialto Marketplace, a 239,552-square-foot neighborhood shopping center located on the South West corner of San Bernardino Avenue and Riverside Avenue in Rialto, Calif.
“As the Rialto Marketplace continues to take shape, it’s increasingly clear that the new retail destination will be an exciting retail, dining and service based destination with many of the stores, restaurants and services people in Rialto want,” said Sandy Sigal, Chief Executive Officer, NewMark Merrill Companies. “It took us over 13 years to secure the site, entitlements, and development plan for the new Wal-Mart Supercenter and our other stores. But the hard work of our entire development team, our partnership with Pacific Retail Partners and the City of Rialto, along with Wal-Mart’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. I am very proud that in such a competitive retail environment we will be delivering a nearly 100% leased project with a strong mix of national, regional and local tenants.”
During a time when retailers’ vitality is in question, the shopping center is filled with a new WalMart Supercenter, which opened on Wednesday, April 5, and the balance of the tenants, who are expected to open by June. These tenants include: Starbuck’s, 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. When completed, Rialto Marketplace will be the largest shopping center in the city of Rialto, CA.
The project financing was arranged by Bryan Gortikov and overseen by Gary Baker and Joe Cecala of Pacific Western Bank. NewMark Merrill’s development team included Brad Pearl, Luca Giovanardi, Darren Bovard and Greg Giacopuzzi joined with Pacific Retail Partners lead by Joe Meyer and Jay Marconi. Tim Mayeda with Lyle Parks Jr. Construction is the general contractor.
About NewMark Merrill Companies
Rialto Marketplace is part of a portfolio of over 86 shopping centers that NewMark Merrill Companies owns or manages. NewMark Merrill Companies, Inc., is owned by Chairman and Chief Executive Officer, Sandy Sigal. Since 1984, he has led NewMark Merrill in a community leadership role at the company’s shopping centers in more than 45 cities throughout California, Colorado and Illinois. NewMark Merrill Companies works very hard to ensure that our shopping centers are successful for our tenants and the community. The Company is known for their innovative and creative marketing, organizing campaigns and community marketing in connection with the needs of individual tenants. In addition, NewMark Merrill takes its commitment to surrounding neighborhoods very seriously, often adopting local charities, both providing them with space to raise funds and awareness and providing direct funds through fund-raisers and other events. For more information about Rialto Marketplace, or NewMark Merrill Companies, visit www.newmarkmerrill.com, or contact Heather Danko, CMD at [email protected] or at 818-710-6100.