IE Business Daily Business news for the Inland Empire.
A Rialto shopping center anchored by a Sprouts Farmers Market has been sold.
Rialto Village, a 92,000-square-foot facility at Riverside Avenue and San Bernardino Boulevard just north of Interstate 10, was sold by NewMark Merrill Cos. Inc. to Langdon Street Capital, according to a statement.
Calabasas-based NewMark Merrill developed the property, which is fully leased, and will continue to be its manager. Cost of the transaction was not disclosed.
“We have strong conviction in the Rialto submarket, and believe Rialto Village embodies the kind of community-driven retail destination that thrives in today’s environment,” said Adam Daneshgar, president of Langdon Street Capital in Los Angeles, in the statement.
Tenants at Rialto Village include Burlington, Ulta Beauty, Five Below, In-N-Out, Coffee Bean, and Cold Stone Creamery.
Founded in 2011, Langdon Street Capital is a real estate investment firm that owns and operates a portfolio of multifamily, retail, and mixed-use properties worth more than $600 million, according to the statement.
