Schriber, who established Donahue Schriber with his late partner, Daniel W. Donahue, says that he and Donahue "always believed in looking ahead and planning for the company's future." His retirement is part of a succession plan that the two co-founders created, which was designed "to utilize the pool of talented individuals who have demonstrated the ability to lead Donahue Schriber," the retiring chairman says.

Throughout his 30-year career with the company, Pat Donahue has worked in every aspect of Donahue Schriber's business including leasing, asset management, development and corporate strategy. He is actively involved with the International Council of Shopping Centers, which next week convenes its signature annual convention in Las Vegas, and is a past trustee of its board of directors.

As part of the management transition, Lawrence P. Casey takes on the role of president, adding to his duties as COO. During his more than 33 years in real estate and investment, Casey has managed over $4.5 billion of assets nationally. He joined Donahue Schriber in 2000 as its CFO and also represents the company through active involvement with ULI.

Donahue Schriber has been involved in nearly 32 million square feet of retail properties in its 41-year history. The private REIT owns and/or operates a portfolio of 84 neighborhood, community, community lifestyle and power shopping centers representing over 12 million square feet throughout California, Nevada, Arizona and Oregon.

Commenting on the succession plan and the company's philosophy, Schriber says, "Dan and I founded the company on the belief that a team approach would be a key to our success. The executive team members have worked together for many years and have proven themselves in both good and challenging times. It's what Dan and I envisioned."