(San Jose, Calif., January 23, 2015) – Donahue Schriber Realty Group, a West Coast owner, operator, and developer of neighborhood, community, and power shopping centers, closed last Thursday on the acquisition of Village Oaks shopping center in San Jose, California.
The center was built in 2014 and includes 320,000 square feet of retail space. The property was purchased from Cupertino-based Hunter Properties. The Target and Safeway anchored community center is located at the intersection of Cottle Road and Great Oaks Parkway, between Highway 101 and State Route 85. The site is part of the City of San Jose’s Hitachi Transit Village master plan, the largest infill development project in the region.
In addition to anchors Target and Safeway, the center is home to a virtual who’s who of national retail brands such as: Marshalls, Party City, Petco, ULTA, Chase Bank, and Bank of America, to name a few. Restaurant and quick-serve food operators include: Panera Bread, MOD Pizza, Five Guys Burgers & Fries, Chipotle Mexican Grill, among others.
David Mossman, Chief Investment Officer of Donahue Schriber stated, “Village Oaks presented a rare opportunity to acquire a newly constructed grocery-anchored shopping center that was developed by one of the best in Northern California, Hunter Properties. The quality of the real estate and tenants also made it an easy decision.”
In November 2013, Donahue Schriber purchased Safeway anchored, Downing Center in Los Gatos. The Village Oaks acquisition further reinforces the company’s commitment to the Bay Area.
About Donahue Schriber
Donahue Schriber is a privately-held Real Estate Investment Trust (REIT) with 70 shopping centers representing over 11 million square feet of retail space throughout California, Nevada, Arizona, Oregon, and Washington. For more information about the company, visit its website at www.DonahueSchriber.com.