1. Market Data
August 22, 2016

Donahue Schriber Realty Group acquires Progress Ridge TownSquare in Oregon

US-based shopping centre operator Donahue Schriber Realty Group has acquired Progress Ridge TownSquare from Gramor Development.

US-based shopping centre operator Donahue Schriber Realty Group has acquired Progress Ridge TownSquare from Gramor Development.

This deal was brokered by Capital Pacific, but its financial details have not been divulged.

The 213,849ft² shopping centre is located in Beaverton, Oregon.

“The acquisition of Progress Ridge TownSquare allows us continued growth in key areas of the Pacific Northwest."

It is anchored by specialty grocer New Seasons Market, and Cinetopia, a movie theatre featuring 14 screens.

Among the other outlets in the shopping centre include Ace Hardware, several fine and casual restaurants, professional and medical services, apparel and other speciality stores.

Donahue Schriber vice-president of acquisitions and development Jack Steinhauer said: “The acquisition of Progress Ridge TownSquare allows us continued growth in key areas of the Pacific Northwest.

"The centre is 98% occupied, area demographics and education levels are strong, and New Seasons Market is a dominant grocer who clearly understands what local consumers want.

"The teams at Capital Pacific and Gramor Development made this a seamless acquisition.”

With this deal, Donahue Schriber currently owns more than one million square feet of retail space in the Pacific Northwest.