Donahue Schriber acquires three grocery-anchored centers
Costa Mesa, Calif. — Donahue Schriber announced the acquisition of its third grocery-anchored shopping center in the last two months. The company reported the close of escrow on Del Mar Heights Village Center in San Diego County, Calif., which follows the acquisitions of Four Corners Shopping Center in Washington State and Bonita Centre, also in San Diego County.
The purchase of Four Corners Shopping Center, 30 miles outside of Seattle, marks the company’s entry into Washington State and expands the company’s presence in the Pacific Northwest. Donahue Schriber has owned and operated 667,720-sq.-ft.Keizer Station in Keizer, Ore. since 2008.
Four Corners Shopping Center is a 120,740-sq.-ft. Safeway-anchored center located on State Routes 169 and 516 in Maple Valley, one of the fastest growing market areas in the state of Washington. It will be featured as part of the grocery-anchored center real estate section in the upcoming Aug/Sept issue of Chain Store Age.
"The acquisition of Four Corners Shopping Center fits with our core strategy to align with the number one or two grocers in a given trade area," said Donahue Schriber’schief investment officer David W. Mossman. "The center’s Safeway is one of the chain’s highest performing stores."
The 107,846-sq.-ft. Del Mar Heights Village Center in Del Mar, Calif. closed escrow August 3, 2012 and is shadow anchored by Vons and CVS Pharmacy and home to 31 local and regional tenants. The center complements Donahue Schriber’s newly renovated flagship property Del Mar Highlands Town Center, located only a few blocks west.
Bonita Centre in Chula Vista, Calif., closed escrow on July 3, and is anchored by Vons and Rite Aid Pharmacy. Donahue Schribersaid it plans a substantial remodel of the 98,854-sq.-ft. center.
"We plan to continue our acquisitions program, aggressively targeting quality properties in Coastal California and the Pacific Northwest with strong, well-performing tenants and solid demographics," said Mossman.
The purchase of these properties follows the company’s announcement earlier in the year of the acquisition of two additional California shopping centers: The Crossings at Paso Robles on the Central Coast; and Mandalay Village Marketplace in Port Hueneme, Ventura County.
Panera Bread to open at Rangeline Crossing
Carmel, Ind. — Indianapolis-based Kite Realty Group said that Panera Bread will open a 4,019-sq.-ft. location at Rangeline Crossing, formerly named The Centre, in Carmel, Inc.
Old National Bank will open a 5,600-sq.-ft. outlotat the 83,533-sq.-ft. center, which is currently undergoing a redevelopment.
The landlord is KRG Centre.
Canadian moms offer valuable insight
MISSISSAUGA, ON — Walmart Canada got some key insights into its core shoppers when it surveyed more than 2,000 Canadian moms with children under 18. And while the survey may have targeted Canadian shoppers, the results can easily be applied to shoppers in the United States.
“Canadian moms are telling us that while they’re concerned about the economy, they are also focused on ensuring their children are healthy, happy and are well prepared to find a job they enjoy when the time comes. They are also looking for more ways to spend quality time with their families,” said Shelley Broader, president and CEO for Walmart Canada. “As a retailer, we’re in a unique position to help Canadian moms. We design our operations around families. Our stores open early and stay open late to let busy moms shop when it’s convenient for them.”
The survey revealed that 77% of Canadian moms want their children to be healthy, while their children’s happiness was a concern for 80%. A vast majority (88%) dream that their children will have a good job which satisfies them, while half of respondents hope their children will go to university.
Unlike their own moms, today’s moms are spending less time teaching their kids how to cook, and 70% say it is a challenge to keep their kids’s diet healthy. Moms are also concerned about rising costs of higher education and future job prospects for their children.
One-third of moms surveyed said they had to give up other treats in order to keep paying for exracurricular activities, which they feel are important to their child’s development.
“Walmart is focused, now more than ever, on our core shoppers—moms—and the . . .survey is just one more way we’re listening to Canadians” said Emma Fox, chief marketing officer for Walmart Canada. “Canadian moms are unique—they have a unique way of managing their households and a unique way of shopping. We want Walmart Canada to be mom’s favourite place to shop, and to achieve that we need to understand her like a best friend. We want to know what we can do to make her life easier and to help her and her family save money and live better, whether that means tweaking the merchandise assortment we carry or the way we manage our operations.”