Project Profiles
Los Gatos Village Square
Location: 15466 Los Gatos Boulevard, between California Highways 85 and 17 in Los Gatos, California
Size: 46,235 sq. ft.
Developer: Donahue Schriber Realty Group
Grocery anchor: Trader Joe’s
Key tenants: Pet Food Express, See’s Candies, The UPS Store, AAA Automobile Club, Baja Fresh Mexican Grill
Status: Open and operating
Donahue Schriber Realty Group, a West Coast owner, operator and developer of neighborhood, community and power shopping centers, continues to expand its presence in the Bay Area with the acquisition of Los Gatos Village Square. The 46,235-sq.-ft. property anchored by Trader Joe’s is located at 15466 Los Gatos Boulevard between California Highways 85 and 17.
Dave Mossman, Donahue Schriber’s Chief Investment Officer, stated, “Los Gatos Village Square was a natural fit for our company and its growth strategy in the Bay Area. The center possesses high barriers-to-entry, stel- lar demographics, a strong anchor in Trader Joe’s, and excellent historical occupancy.” Other recent company acquisitions include Alamo Plaza in Alamo, Gilman District in Berkeley, Village Oaks Shopping Center in San Jose, and Downing Center--also in Los Gatos.
University Plaza
Location: Flagstaff, Arizona
Developer: VEREIT
Grocery anchor: Safeway
Key tenants: Bed Bath & Beyond, Ross Dress for Less, PetSmart, Dollar Tree, Mattress Firm, FedEx Office, Rue 21, Sprint, Massage Envy, Chipotle, Panda Express
Status: Open and operating
University Plaza is a 166,000-sq.-ft. shopping center in the heart of Flagstaff, Ariz., anchored by Safeway, Bed Bath & Beyond, Ross Dress for Less and PetSmart. The center also offers numerous retailers, restaurants and services. Located across the street from Northern Arizona University, the center serves more than 21,100 students, as well as faculty and staff members. University Plaza is situated on a major retail thoroughfare just north of Interstates 17 and 40, the primary corridors to popular northern Arizona tourist destinations, including the Grand Canyon. The center serves the residents of Flagstaff and communities beyond, as well as a year-round tourist population.
Pohatcong Plaza
Location: Phillipsburg, New Jersey
Size: 537,410 sq. ft.
Developer: National Realty & Development Corporation
Grocery anchor: Stop & Shop
Key tenants: Walmart Supercenter, Regal Cinemas, Toys “R” Us/Babies “R” Us, Hobby Lobby, Marshalls, Home Goods and Ulta Beauty
Status: Open and operating
Pohatcong Plaza is a 537,410-sq.-ft. regional power center that features a merchandise mix of soft goods, apparel, health & beauty aids, groceries, dining, and entertainment categories. In 2012, NRDC redeveloped the shopping center, relocating Walmart to an adjacent parcel to accommodate Walmart’s Supercenter prototype store. The new parcel included three outparcel buildings tenanted by Quaker Steak & Lube, White Castle and Wawa. In tandem, NRDC secured three additional anchors for the shopping center to back-fill the former Walmart building securing Marshalls, HomeGoods, and Hobby Lobby. Stop & Shop, a tenant since 1996, is celebrating its 20th year at the center.
The Village at Tustin Legacy
Location: Tustin Ranch Road & Edinger Avenue, Tustin, California 92780
Size: 113,219 sq. ft.
Developer: Regency Centers
Grocery anchor: Stater Bros. Market
Key tenants: Bank Of America, Board & Brew, Burger Boss, CVS, Dunkin’ Donuts, Great Clips, Great Foundations Montessori, Pacific Dental, Pizza Press, Yogurtland
Status: Under construction and opening Spring 2017
Centered at the core of Orange County’s new 1,600-acre master-planned Tustin Legacy community, The Village at Tustin Legacy will provide a much-anticipated destination for daily needs, dynamic dining and desired services. Built to serve the diverse and burgeoning population of Tustin, The Village at Tustin Legacy will provide a 44,000-sq.-ft. leading grocer with an additional 55,000-sq.-ft. of retail, dining and service.
Located on a portion of what was formerly a Marine Corps Air Station, the Village at Tustin Legacy will be built for the future, with architectural nods to a heritage rooted in aviation and industry. Outdoor patios connected by wide pathways, tall ceilings, and windows set against deep steel-accented wood, accessible parking and convenient amenities will make the Village at Tustin Legacy a valued destination for years to come.
McKinney Market Street
Location: McKinney, Texas
Size: 88,389 sq. ft.
Owner: Phillips Edison & Company
Grocery anchor: Market Street, a subsidiary of Albertsons and a leading grocer in Texas
Key tenants: Massage Heights, State Farm Insurance, The Joint Chiropractic
Status: Open and operating — potential for new outparcel
This high-quality asset is located in McKinney, a suburb 33 miles north of Dallas. Its population exceeds 95,000 in a three-mile radius and sports an average household income of more than $115,000. Upside exists in 1.4 acres of land which can be developed to generate additional revenue and maximum value.
University Center
Location: Campus Drive at Bridge Road in Irvine, California, near the 405, 73, and 55 freeways, just two miles from John Wayne Airport.
Size: 177,000 gross leasable area
Developer: Irvine Company Retail Properties
Grocery anchors: Trader Joe’s. Set to open July 2017: Target.
Key tenants: Edwards Cinema, Mendocino Farms, Tender Greens, In-N-Out, Eureka, Chick-fil-A, Slapfish, Blaze Pizza, Nekter Juice and STAX Cookie Bar among other casual food and service retailers plus 180,000 sq. ft. of onsite office.
Status: Open and operating
University Center, located near three major freeways, sits adjacent to University of California Irvine (UCI) and its 37,500 students and faculty, as well as in close proximity to the business population at University Research Park’s 2.2 million sq. ft. of office. Target will open its first Orange County urban-style, flexible-format store at University Center in July 2017 as a part of the chain’s effort to grow in urban and college campus markets.
The daily needs component of Trader Joe’s serves as a complement to a mix of new retail and service tenants and a growing list of unique food concepts from farm-to-table and ethnic foods. These include Tender Greens, Mendocino Farms, Blaze Pizza, Slapfish, Eureka!, STAX Cookie Bar, and Nekter Juice Bar. Coming soon are Spoleto (Italian