LAS VEGAS, NV—The Rancho Sierra Shopping Center, located at 4404 – 4530 N. Rancho Drive, Las Vegas, NV, has traded hands for $13.3 million. The 318,326 square-foot property is anchored by Kmart and Dollar Tree. Daniel Adamson, executive director, of R.O.I. Commercial Real Estate represented the seller deal.

RILATO, CA—NewMark Merrill Companies has completed the Walmart Supercenter in the Rialto Marketplace, and 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, 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. 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.

LOS ANGELES—The Robhana Group has secured $33.5 million in permanent and construction financing for a 60,000-square-foot medical office building and parking structure in Downtown Los Angeles. Quantum Capital Partners' Managing Partners Jonathan Hakakha and Mike Yim led the financing assignment on behalf of the borrower and began marketing the opportunity to potential lenders more than a year ago, while the then speculative development was still in the planning stages. The new Healthcare Partners outpatient facility is being constructed on a 2.91-acre site at 1120 West Washington Boulevard near the US 10 and CA 110 interchange in downtown Los Angeles. Robhana acquired the development site in 2012 with financing arranged by Quantum.

SAN DIEGO—The Richman Group of California Development Company has broken ground on K1, a mixed-use development that includes a 23-story luxury residential tower with 222 apartments, more than 7,000 square feet of ground floor commercial space and parking for 317 vehicles. K1 also features an adjoining low-rise building, playfully called The Sliver, which will include two penthouses, a restaurant and urban garden. Completion of the project, which is located directly across from the Downtown Central Library, is scheduled for early 2020. Development costs for the 422,793-square-foot project, exceed $100 million.

LOS ANGELES— Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEW & NOTABLE

LOS ANGELES—Research specialist Arty Maharajh has joined the Avison Young as Research Manager for Los Angeles County. Maharajh brings 16 years of commercial real estate research experience to Avison Young. Based in the downtown Los Angeles office, he will maintain data and analytics and produce local quarterly market reports covering all service lines. Additionally, he will lead research projects on behalf of clients, providing insight on demographic, economic, labor force and real estate market trends. He most recently served at Cushman & Wakefield, where he headed the firm's Los Angeles Metro Region research efforts. Prior to joining Cushman & Wakefield, Maharajh worked in research capacities at CBRE, where he managed the firm's Inland Empire research team; American Realty Advisors; and CoStar Group, where he oversaw a large team of analysts and field researchers for multiple markets, including Bethesda, MD, and San Diego offices.

DEALTRACKER

LAS VEGAS, NV—The Rancho Sierra Shopping Center, located at 4404 – 4530 N. Rancho Drive, Las Vegas, NV, has traded hands for $13.3 million. The 318,326 square-foot property is anchored by Kmart and Dollar Tree. Daniel Adamson, executive director, of R.O.I. Commercial Real Estate represented the seller deal.

RILATO, CA—NewMark Merrill Companies has completed the Walmart Supercenter in the Rialto Marketplace, and 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, 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. 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.

LOS ANGELES—The Robhana Group has secured $33.5 million in permanent and construction financing for a 60,000-square-foot medical office building and parking structure in Downtown Los Angeles. Quantum Capital Partners' Managing Partners Jonathan Hakakha and Mike Yim led the financing assignment on behalf of the borrower and began marketing the opportunity to potential lenders more than a year ago, while the then speculative development was still in the planning stages. The new Healthcare Partners outpatient facility is being constructed on a 2.91-acre site at 1120 West Washington Boulevard near the US 10 and CA 110 interchange in downtown Los Angeles. Robhana acquired the development site in 2012 with financing arranged by Quantum.

SAN DIEGO—The Richman Group of California Development Company has broken ground on K1, a mixed-use development that includes a 23-story luxury residential tower with 222 apartments, more than 7,000 square feet of ground floor commercial space and parking for 317 vehicles. K1 also features an adjoining low-rise building, playfully called The Sliver, which will include two penthouses, a restaurant and urban garden. Completion of the project, which is located directly across from the Downtown Central Library, is scheduled for early 2020. Development costs for the 422,793-square-foot project, exceed $100 million.