Hired in as a partner, McDonough will oversee the acquisition and development of retail, mixed-use and redevelopment opportunities in the Western US, according to company officials. The firm counts 700,000 sf of commercial space in its portfolio, with another 300,000 sf under development or in the pipeline.
Projects under way include Ocean Ranch Plaza, a nearly 13.7-acre retail, office and hotel development project in the Stirling master plan in Oceanside; and Seabridge Marketplace, a shopping center in the D.R. Horton masterplan in Oxnard. A Vons anchors that project.
According to Kahl, the firm has focused on multiple product types, including "retail, office, medical and residential space." The firm has mostly partnered with master developers, including D.R. Horton, Stirling, the Irvine Co. and the Santa Margarita Co.
McDonough will shepherd additional growth opportunities, according to Kahl. "The addition of [McDonough] to our company allows us to aggressively pursue our goal of acquiring additional projects totaling one million sf over the next five years as well as expand our market to encompass the Western US," Kahl adds.
Most recently the national director of acquisitions and dispositions for Regency Centers Corp., McDonough has been involved in the acquisition and development of more than $750 million of commercial property and land parcels. He says that the firm is "interested in acquiring retail or mixed-use development opportunities ranging in size from four to 50 acres, particularly within master-planned communities."
Besides development opportunities, McDonough says that K&G will also be "seeking existing shopping centers or mixed-use centers as stabilized assets or as value-added opportunities."
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