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April 24, 2015

Donahue Schriber buys Interbay Urban Center

Courtesy Donahue Schriber Realty Group [enlarge]

Costa Mesa, California-based Donahue Schriber Realty Group said it bought Interbay Urban Center, a shopping center at 1827 15th Ave W. in the Interbay neighborhood that is anchored by Whole Foods.

Property records show Donahue Schriber paid about $47.8 million for the 80,560-square-foot shopping center.

The shopping center is 100 percent leased.

“The purchase of Interbay provided Donahue Schriber with a unique urban core opportunity,” Chairman and CEO Patrick Donahue said in a statement. “We believe the Pacific Northwest is one of the most attractive retail hubs on the West Coast.”

Paul Sleeth of Colliers International brokered the deal.

This is the third purchase for Donahue Schriber in the Seattle area in the last four months. It owns Westgate North, a 128,630-square-foot shopping center in Tacoma anchored by Safeway and Ace Hardware, and Lakeland Town Center, a 125,142-square-foot shopping center in Auburn anchored by Haggen Northwest Fresh.

Donahue Schriber is a real estate investment trust that owns and manages 70 shopping centers in California, Arizona, Nevada, Oregon and Washington.




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