AUBURN, WA—Donahue Schriber Realty Group has acquired Lakeland Town Center in Auburn, shortly after purchasing, Westgate North located in Tacoma. The combined purchase price for the properties was $67 million.

In the past 90 days, the firm has also acquired Village Oaks Shopping Center, a 320,000 square foot center anchored by Target and Safeway located in San Jose, CA and Gilman District, a 91,300 square foot Whole Foods Market-anchored center in Berkeley, CA.

Acquired from Loja Group, Lakeland Town Center is a 125,142 square foot neighborhood shopping center located in the planned community of Lakeland in Auburn, Washington. Situated along the highly traveled Lake Tapps Parkway, the center is home to Haggen Northwest Fresh, Starbucks, McDonald's, Subway, Verizon, and many other notable tenants. “Donahue Schriber believes strongly in the Pacific Northwest and our recent acquisitions reflect this. Lakeland Town Center and Westgate North were especially desirable because of their high barriers to entry and strong sales performance from major tenants,” said Dave Mossman, chief investment officer.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.