Donahue Schriber has paid $9 million for the complex, which is known as Windmill Marketplace. Completed in March 2001, the retail center is currently 86% leased. Occupants include anchor tenants Ralphs and Walgreens, as well as Starbucks, Quizno's, Cold Stone Creamery and Mail Boxes Etc.
"Windmill Marketplace is a good addition to our portfolio because the property is an asset with the right tenant mix in a prospering community," says David Mossman, Donahue Schriber's vice president of development.
The developer plans to build two additional pads on the Windmill Marketplace's center property in the upcoming year. They will encompass a total of 9,000 sf.
Donahue Schriber was represented by Scott Negri of Commercial Retail Association. Pete Orlando of Fortune Associates acted on behalf of the seller, San Diego-based Canyon/Cahan/Clovis LLC.
Donahue Schriber is a private REIT with more than 14 million sf of retail property in California, Nevada and Arizona.
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