Donahue Schriber Can't Stop Shopping
The firm just snapped up Gilman Village in Berkeley on Friday, marking its second local buy within the past month. (The other was the 320k SF Village Oaks shopping center in San Jose.) Whole Foods takes up about half of the 91k SF shopping center off Interstate 80 and features the first Allegro Coffee on the West Coast. Above, president Lawrence Casey, speaking at a past SoCal Bisnow event. We're still tracking the price, which was undisclosed.
Here's how the sale came to fruition: In August 2012, Donahue Schriber formed a relationship with Gilman Partners (a venture between Foothill Partners and The Pratt Co). Donahue provided Gilman Partners construction financing in exchange for a purchase option on the property once Whole Foods and Office Depot opened for business. Donahue sees the upside and has exercised the option.