Donahue Schriber Starts Nearly 2M SF

COSTA MESA, CA-Donahue Schriber has kicked off development of more than 1.7 million sf of retail space in California, Arizona and Nevada, with construction under way on four new centers and land secured for five additional developments. The projects represent approximately $190 million in new developments for the private REIT.

Mark Whitfield, EVP of development for Donahue Schriber, lists the new projects as four California centers where construction has begun, two of them Safeway-anchored neighborhood centers. The two Safeway centers are the 90,000-sf Laguna Reserve Marketplace at the southwest corner of Bruceville and New Poppy roads in Elk Grove and the 108,000-sf Green Valley Marketplace at the northeast corner of Green Valley Road and Francisco Drive in El Dorado Hills.The two remaining centers under way introduce a new grocery anchor, SaveMart, to the Donahue Schriber portfolio. SaveMart operates more than 125 stores throughout Central and Northern California and is one of the largest regional grocery store operators in the state. Donahue Schriber has broken ground on a 91,000-sf center at the intersection of Interstate 5 and Lathrop Road in Lathrop, and a 96,000-sf center at the southwest corner of Herndon and Milburn in Fresno. All four centers are projected to open during the fourth quarter of this year.The five additional shopping centers that are in the planning stages include two joint venture projects slated for Northern California, one in the rapidly growing Menifee area of Riverside County and one each in Nevada and Arizona.The Northern California sites include Rocklin Crossings, a 455,000-sf power center to be developed by Donahue Schriber and Sierra Holdings. The $37-million project is located at Interstate 80 and Sierra College Boulevard in Rocklin. Construction is scheduled to begin at the 50-acre site in June 2006. The other development in Northern California is Westlake Village, a 66,000-sf neighborhood center in Sacramento at the northwest corner of Del Paso and El Centro roads that will be developed in a joint venture with Tom Winn. Anchor tenants have not been announced for either center.The Menifee project is a 650,000-sf community center called Countryside Marketplace at the southwest corner of Interstate 215 and Newport Road. The $62-million development will be Donahue Schriber's 30th Southern California center and is expected to break ground in late 2006.In Nevada and Arizona, the company's plans include two centers with June 2005 construction start dates. The first is Pioneer Meadows, a 108,000-sf project at the northwest corner of Vista Boulevard and Wingfield Hills Drive in Sparks, NV; the second is a 132,000-sf expansion of Donahue Schriber's Gilbert Commons, a multi-phased community center in Gilbert, AZ at the southwest corner of Cooper and Baseline roads that will be anchored by a TJ Maxx/HomeGoods combination store.