SACRAMENTO, CA-SCI Real Estate Investments has acquired the 242,674-sf Park Place II power center here from Costa Mesa, CA-based shopping center owner Donahue Schriber for $71.5 million. With this deal, Los Angeles-based SCI has closed on more than $110 million in shopping center acquisitions in the last week.

Last week SCI purchased the 153,400-sf, Giant Foods-anchored Palmer Town Center, in Easton, PA, for $40.8 million. Of SCI’s $1 billion in total assets, about 50% are currently retail properties; the rest are other property types.

Of the $1 billion the firm expects to acquire next year, about half will be retail assets, according to SCI executives. The company is also in the process of developing Midvale Marketplace, a 100,000-sf center in Tucson, AZ that is shadow-anchored by a Wal-Mart Supercenter and is set for completion in March.

In the case of Park Place II, it is anchored by Kohl’s, Marshalls, Bed Bath & Beyond and Borders. The center is located on Natomas Boulevard in the North Natomas neighborhood of northwestern Sacramento. Donahue Schriber opened the center last year and continues to operate the nearby Park Place I.

The Natomas area is attractive because of its housing and economic growth, Andy Van Tuyle, the company’s senior managing director of acquisitions, told GSR. “It’s extremely hot,” he says. “There’s a ton of activity in that market.”

So far SCI has 14 TIC investors involved in Park Place II with minimum commitments of $600,000. The company has also secured $44.7 million in financing from Wachovia Securities for the deal. CB Richard Ellis represented Donahue Schriber, while Van Tuyle and Scott Derrick, SCI’s senior managing director of acquisitions represented their firm.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.