SAN JOSE — 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. The purchase price was not disclosed.
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 said, “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.”
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.