Tag Archives: Donahue Schriber Realty Group

vegas

Australian company buys Las Vegas retail center for $23.4m

DTZ, a global leader in commercial real estate services, has announced the $23.4 million sale of Las Palmas Village in Las Vegas on behalf of the seller, Donahue Schriber Realty Group of Costa Mesa, CA.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett of Phoenix represented Donahue Schriber in the investment sale. The buyer was Australian-based Citywest Investments Joint Venture. The ±106,838 square foot Las Palmas Village is located at 445-525 E. Windmill Lane.

“Las Palmas Village is a solid neighborhood shopping center with daily needs tenants and a strong history of occupancy,” according to Mr. Hackett. “Its location near surrounding master-planned communities and the city’s largest concentration of employment, the Las Vegas Strip, made it an attractive investment opportunity.”

Built in 1997, Las Palmas Village is anchored by one of Las Vegas’s highest performing Vons grocery stores, which occupies ±57,566 square feet. The neighborhood retail center is 99.2% leased, with a substantial list of national tenants including Wells Fargo, Bank of America, Taco Bell, Fantastic Sams, American Family Insurance, The UPS Store, Pizza Hut and H&R Block. Las Palmas is located on 10.8 acres at the corner of Bermuda Road and Windmill Lane, an intersection that has visibility to approximately 72,000 daily vehicles.

summit

The Summit at Scottsdale sells for $54.1 Million

DTZ, a global leader in commercial real estate services, has announced that a limited partnership formed by Weingarten Realty Investors of Houston (NYSE: WRI) purchased The Summit at Scottsdale, a Safeway and Target (NAP)-anchored retail center for $54.1 million. Donahue Schriber Realty Group, L.P. of Costa Mesa, Cal. was the seller of the ±190,408 square foot property located on the northeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Ariz.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett of Phoenix and Dan Wald of San Francisco brokered the all cash investment sale.

“The Summit is a highly coveted asset,” according to Mr. Schubert “Donahue Schriber developed this trophy in North Scottsdale and enjoyed the benefits of their work for 15 years. With the addition of Summit, Weingarten has added to an already impressive portfolio in this submarket”

Developed in 2001, The Summit at Scottsdale is built on 26.2 acres in North Scottsdale. In addition to Target (not a part of sale) and Safeway, the community center’s tenants include CVS, Office Max, PetSmart, Starbuck’s, Bath & Body Works, Verizon Wireless and Chico’s, among others. The Summit was 97% leased, with over 80% of the tenants national retailers, at the time of sale.

Marley Park Plaza

Cassidy Turley reports two retail center sales

Cassidy Turley announced the sale of Marley Park Plaza, a 77,545 square foot, grocery-anchored neighborhood shopping center at 15411 W. Waddell Road in Surprise. IMAN Enterprises, LLC of Surrey BC, Canada, purchased the retail center for $12.45 million from Donahue Schriber Realty Group.

Cassidy Turley Executive Managing Directors Ryan Schubert, Michael Hackett, Dan Wald and Matt Kircher negotiated the transaction on behalf of the seller.

Located on 11.83 acres at the southeast corner of Waddell and Reems Road, the sale included the Basha’s anchored shopping center and an adjacent 2.45 acre developable land parcel. The parcel is currently planned for an additional 16,705 square feet of retail space. In addition to Basha’s, Marley Park Plaza tenants include Subway, H&R Block, Little Caesar’s Pizza, Baskin Robbins and Great Clips. Developed in 2007 by Donahue Schriber Realty Group, the property is located one-half mile east of the Loop 303 with frontage on two primary thoroughfares in Surprise. Marley Park Plaza was 98% leased at the time of sale.

“There was tremendous upside for the buyer with the future development of the adjacent parcel,” Hackett said.

The brokerage firm has also announced that Hayden Crossing Shopping Center, a 63,446 square foot neighborhood retail center at 8015-8035 E. Indian School Road sold for $14 million ($221.38 PSF).

Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller Hayden Crossing Shopping Center, LLC. The buyer was a Phoenix investor, 919 Hillsdale, LLC.

Hayden Crossing

Hayden Crossing

“Hayden Crossing is located in a prime infill Scottsdale submarket with a very high barrier of entry by future competition,” Schubert said. “The center includes two quality, net lease tenants, Bashas’ and Walgreens.”

Hayden Crossing is located on six acres at the southeast corner of Hayden and Indian School Roads. The center was built in 2004 specifically for Bashas’ and Walgreens. The neighborhood shopping center services all of downtown Scottsdale, the city’s second largest employment center and a hub for technology and healthcare companies like Yelp and McKesson.

UnionHills_PressRelease

California investor purchases Union Hills Village for $10.3 Million

Cassidy Turley announced that a company formed by California-based Ethan Christopher acquired Union Hills Village, 18631 N. 19th Avenue, for $10.3 million ($93.47 PSF). The seller was Costa Mesa, CA-based Donahue Schriber Realty Group, L.P.

Executive Managing Directors Ryan Schubert, Michael Hackett, Dan Wald and Matt Kircher with Cassidy Turley’s Retail Capital Markets Group represented the seller.

“Ethan Christopher was able to recognize the potential and stability of Union Hills Village and is excited to add the asset to its outstanding portfolio of neighborhood centers in Arizona,” Mr. Hackett said.

Built in 1987, Union Hills Village is a ±110,188 square foot community center situated on 10.5 acres and is configured for multi-tenant retail use. The project is anchored by Blast Fitness, Dollar General and other national tenants including Dunkin Donuts, Cost Cutters, Nationwide Vision, Subway and UPS Store. The property has excellent visibility along both Union Hills Drive and 19th Avenue in Phoenix. Union Hills Village was 86% occupied at the time of sale.