SAN FRANCISCO—Donahue Schriber Realty Group has increased its bay area presence with the purchase of Gilman Village, a 91,300-square-foot shopping center in Berkeley that is anchored by a Whole Foods Market, from Gilman Partners. The property is the firm's second bay area purchase this month. The purchase price of the shopping center was not disclosed, however, industry sources unrelated to the deal have estimated the purchase price at $33 million. 

“Donahue Schriber is highly focused on increasing its presence in coastal California and the Pacific Northwest,” Dave Mossman, chief investment office for Donahue Schriber, tells GlobeSt.com. “During the recession these areas were clearly more resilient than others. The company also aligns itself with top-quality anchors in each given retail sector.”    

According to Mossman, the investor was attracted to the property for the infill location with high barriers to entry, top quality anchor in Whole Foods Market and the strong area demographics. The investor offered Gilman Partners construction financing in exchange for a purchase option on the property once the anchor tenants opened. The other tenants at the property include Office Depot and Allegro Coffee.

Earlier this month, this investor purchased the Village Oaks Shopping Center in San Jose. A Target and a Safeway market anchor the 320,000-square-foot shopping center. Although the purchase price was also undisclosed, industry sources unrelated to the deal say it was $111 million.