RIALTO, CA—A new 1,400-acre master-planned mixed-use residential, industrial and retail district called Renaissance is underway in the County of San Bernardino. It encompasses the former 434-acre Rialto Airport property here. The project will include about 1,300 residential units, a school and park, 16 million square feet of industrial, manufacturing, office and research and development uses, and a 65-acre shopping center called The Renaissance Marketplace Retail Center. Situated at the intersection of Ayala Drive and Renaissance Parkway, the center is planned for about 650,000 square feet of retail buildings, with the opening anticipated in 2016. GlobeSt.com caught up with Randall Lewis, EVP of Lewis Retail Centers, who is developing the center.
GlobeSt.com: Who is involved with the project?
Randall Lewis: Renaissance Marketplace is a public-private partnership between the City of Rialto, Lewis Retail Centers and Hillwood. CBRE is marketing the site to prospective tenants and thus far we have received very positive feedback from a number of tenants who recognize the regional and local significance of the site.
GlobeSt.com: What makes this site so ideal for new development?
Lewis: The surrounding area is experiencing a significant amount of investment and new job growth due to several major companies that have chosen to locate their operations in Rialto. This site is also located along the 210 Freeway which has over 127,000 cars per day and the freeway off-ramp of Ayala Drive has 30,000 cars per day. Renaissance Marketplace is well spaced in relation to other major shopping centers in the area so it will be able to take advantage of existing demand, as well as accommodate new rooftops and jobs that are coming to the region. Lastly, the City of Rialto has a proven track record of being able to get new businesses through the process very efficiently and removing obstacles in the development process.
GlobeSt.com: What do you anticipate as the benefits in terms of jobs and economic investment? What types of tenants do you anticipate attracting?
Lewis: With over 600,000 square feet, Renaissance Marketplace will attract all types of tenants such as a theatre, hotel, restaurants, apparel and soft goods, fitness, grocery, and local serving shop space. The economic impact of a project of this size will be substantial.
GlobeSt.com: Why is this a good time to pursue this project?
Lewis: From a market standpoint, retailers are optimistic, we are seeing employment growth, and believe there are many tenants looking to be in this area to take advantage of its strategic location.
Renaissance Marketplace is located on the site of the recently closed Rialto Municipal Airport, so development is now able to proceed.
GlobeSt.com: What do you think overall is the greatest benefit for a tenant who is looking to expand into San Bernardino County?
Lewis: The County of San Bernardino and the City of Rialto have been very supportive of development and welcomed new and expanding companies with open arms. The Countywide Vision has played an important role in guiding an economic development strategy for the County. Similarly, the City of Rialto is very focused on economic development and capturing opportunities that will enhance the quality of life for its residents.
It is also important to note that Renaissance Marketplace is envisioned to have something for everyone in terms of lifestyle and entertainment as well as daily needs. There will be a lot of synergy with those types of retailers which should be great for both our customers and tenants.
Visit the County of San Bernardino booth at RECon at S381S.