REAL ESTATE

Donahue Schriber launches Mandalay Village Marketplace renovation

BY Katherine Boccaccio

Port Hueneme, Calif. — Costa Mesa, Calif.-based Donahue Schriber said it has started the first phase of a $1.5-million renovation of Mandalay Village Marketplace, a 193,964-sq.-ft. shopping center in Port Hueneme, Calif.

The Ralphs and CVS Pharmacy-anchored center also includes Petco and Do It Best Hardware.

Mandalay Village Marketplace was purchased by Donahue Schriber at the beginning of 2012 as part of a strategic acquisitions plan following the retail owner and developer’s $1.2 billion recapitalization last year.

"Our overall goal is to reinvigorate the shopping center and create a better shopping experience for our customers,” said Donahue Schriber’s chief investment officer David W. Mossman.

The renovation will include new paint, enhanced common area spaces, new landscaping and storefront embellishments that will embrace the center’s nautical architecture and complement its ‘Cape Cod’ styling. The center was originally built in three phases between 1989 and 2005.

Donahue Schriber purchased the center at the beginning of this year when it was 81% leased. The company said it has aggressive leasing goals to take Mandalay Village Marketplace to a 95% lease-up in the near future.

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REAL ESTATE

Sleep Experts to open new store in Hurst, Texas

BY Staff Writer

Dallas — X-Team partner Venture Commercial said that mattress retailer Sleep Experts has signed a lease to open a new store in Hurst, Texas, at the Shops at North East Mall, which is owned by Simon Property Group.

The 4,305-sq.-ft. store is slated to open by the end of July.

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REAL ESTATE

Northern Tool to open Corpus Christi location

BY Staff Writer

Corpus Christi, Texas — Northern Tool + Equipment has signed a lease to open a 15,000-sq.-ft. facility in a shopping center anchored by Cavender’s Boot City, located in Corpus Christi, Texas.

Venture Commercial, which represents Northern Tool, made the announcement.

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Oct-11-2012 02:01 pm

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