Costa Mesa, Calif. – Costa Mesa-based developer Donahue Schriber has recently added over 425,000 square feet of retail space to its portfolio of neighborhood, community and power shopping centers with their two latest California acquisitions in Bakersfield and Roseville.

The first property is The Marketplace, a 300,000-square-foot lifestyle community center located at the intersection of Ming Avenue and Haggin Oaks Road in Bakersfield. The Marketplace is the premier center in the Bakersfield market and is anchored by Vons, Rite-Aid and an Edwards Stadium 14-screen Theatre. Additionally, The Marketplace is home to national tenants like Talbots and Chico’s, as well as strong regional and local tenants like Patrick James and Olcotts.

Donahue Schriber acquired the fully leased property for $84.5 million from Bakersfield-based Castle & Cooke California, Inc.. The company currently has one additional neighborhood center in Bakersfield as part of its 71-center portfolio.

The second acquisition was for a 127,000-square-foot neighborhood center in Roseville. Highland Crossing Shopping Center is a fully leased Safeway and Longs Drugs-anchored center at the northeast corner of Pleasant Grove Boulevard and Roseville Parkway.

The 14-acre project was built in 2003 and was acquired from a private partnership for $41.5 million. The center is located near Donahue Schriber’s Highland Reserve Marketplace, the Kohls-anchored community center the company built last year. With this acquisition, Donahue Schriber has four centers in Roseville totaling 1 million square feet.

"Both of these acquisitions are consistent with our goals of owning well-positioned, grocery-anchored centers that are first or second in their market," said Dave Mossman, vice president development for Donahue Schriber. "Even though the Marketplace includes lifestyle tenants among its roster, we feel that having the ‘weekly needs’ tenants helps successfully marry two different concepts."

Costa Mesa-based Donahue Schriber has been involved in nearly 30 million square feet of retail properties during its 36-year history. A private REIT (Real Estate Investment Trust) since January 1997, the firm owns and/or operates a portfolio of 71 neighborhood, community, power and community lifestyle shopping centers in California, Nevada and Arizona, representing over 12 million square feet. For more information about the company, visit its website at http://www.donahueschriber.com.