Shopping Center Developers Join in New Company

Shopping center developers Malcolm R. Riley and Arthur L. Pearlman have joined forces to form Riley/Pearlman Co., Brentwood.

The firm will assume the development activities of the Riley Cos., founded by Riley in 1978, and Inmark Investment Corp., formed by Pearlman in 1977.

The new firm has more than $150 million in new shopping centers under development in 11 locations in California, with a total of more than 1.7 million square feet. The emphasis will be on locations in downtown redevelopment areas and the rehabilitation of older centers.