Real Estate Veterans Launch Retail Venture
Real estate executive Robert A. Manarino has formed Irvine, Calif.–based Manarino Realty, a new company that will develop and renovate retail centers on the West Coast.
Manarino, who most recently spearheaded retail development for Atlanta-based Cousins Properties, will be joined by former Arden Realty executives Richard Ziman and Victor Coleman, along with John Long of Highridge Partners and Jack Mahoney of Summit Commercial Properties. Ziman and Coleman sold Arden to GE Real Estate this year for $3.2 billion.
“Our focus will be on urban and suburban infill in primary markets in Southern California and the Western U.S.,” said Manarino in a statement announcing the new partnership. “We will target challenged properties in great neighborhoods in an effort to transition and enhance a property into a destination that will win community support and pride. Our goal is to create great places in concert with community input and consensus.”
Manarino said that while he and his partners have not set parameters for development, they favor hybrid centers featuring large-format tenants like Target, accompanied by a lifestyle component featuring pedestrian connections and public spaces.
“Ideally, we would like to include a mix of uses with the retail that could include either office or residential or both,” he added.
—Robert McAllister
