(San
Jose, California, September 30, 2016) - Donahue Schriber Realty Group, a West
Coast owner, operator, and developer of neighborhood, community, and power
shopping centers announced the off-market acquisition of Westgate West Shopping
Center located at the corner of Lawrence Expressway and Prospect Road in San
Jose, California. The 233,813
square-foot retail property is anchored by Trader Joe’s, Orchard Supply
Hardware (OSH), CVS Pharmacy, Ethan Allen, and Smart & Final.
Executive
Vice President-Chief Investment Officer, Dave Mossman stated, “Westgate West is
in perfect alignment with Donahue Schriber’s strategy of expanding its presence
in high barriers to entry core markets from San Diego to Seattle. The team at Grosvenor Americas was responsive
and flexible throughout the entire due diligence process, and Craig Zarro of
Preferred Capital Advisors played an instrumental role in capitalizing the
acquisition with a new loan from Wells Fargo Bank N.A. We were very impressed with Wells’ ability to
close the transaction in such an expedited manner. Donahue Schriber is now focused on enhancing
the center’s already strong lineup of existing merchants.”
About Donahue Schriber Realty Group
Donahue
Schriber Realty Group is a privately-held Real Estate Investment Trust (REIT)
with 65 shopping centers representing over 11 million square feet of retail
space throughout California, Nevada, Oregon, and Washington. For more information about the company, visit
www.DonahueSchriber.com.